They basically trying to replace the CL with something more lucrative, the question is will the football be more attractive for , because the quality of football in the CL where these very teams play every week, is pretty ass.
I can see it eventually getting approved with ease in Spain & Italy, the big clubs, will ask for a reduction in teams that play in the league, and do to something with the cup, what exactly I don't know, to eliminate it completely will be tough, as that will be the only way,teams that aren't in the super league but play domestically will have a chance to win anything,maybe make all ties one legged, idk, but something will happen regarding that in combination with reducing the leagues to say 16/18 teams, to reduce the number of games & improve the "quality".
For this they will offer the leagues I huge appointment of cash annually, & maybe a initial payment, that will do towards developing football at the "grassroots" & well as help the clubs playing in serie A and la Liga.
For the EPL that's already flushed with cash, I don't think that throwing money at the problem approach will work.
FIFA/UEFA is a joke is all this, because who wants to want the euros & the WC without the world's best players, they will fold pretty quickly.
The main issue is to secure domestic league football for these teams, that's thier bread & butter, especially when they go long stretches without actually winning the super league, to actually keep the titles coming in.