China's richest man Wang Jianlin is backing plans to launch a European football league to compete against the UEFA Champions League, the annual football competition played by top-division European clubs.

Dalian Wanda Group is reportedly in negotiation with UEFA but is willing to start a competition if talks do not go well, Financial Times reported.

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According to Marco Bogarelli, Wanda Sports Holding's strategic director, the company is targeting to lure more of Europe's 'big five' TV markets including Manchester United, Barcelona, and Bayern Munchi.

"Many talented players are deciding to play in Asia instead of coming to Europe," he said. "One day Asia will have the money for Cristiano Ronaldo to play there ... It is in the common interest for these five leagues to have football growing in Europe [in order to] maintain its relationship."

He further revealed that they are also in talks with Spain's La Liga and Italy's Serie A. It also plans to talk with the Premier League, the Bundesliga, and the Ligue 1.

Furthermore, Dalian is seeking the support of England, France, Italy, Spain, and Germany with the commitment of bringing the tournament to other locations and increasing revenues from broadcasting rights, Bogarelli said. Of note, IBT reported that the reason for the incentives is to make sure that the national leagues contest in the breakaway tournament.

On the other hand, Wanda, which owns a 20 percent stake in Atletico Madrid, has refused to comment on the report.

The recent domes after Chinese President Xi Jinping expressed his intention to convert China into a "great sports nation" with the ability to take home the World Cup title.

Tagswang jianlin, Dalian Wanda, European football league, UEFA Champions League, Football