Oil-rich billionaires could offer up to £175m to the world's biggest clubs just to take part in a summer 'Dream Football League'.

The tournament - to be held in six cities in the Gulf region every other year, starting in 2015 - would involve 24 elite clubs.

Organizers would hope to attract four English clubs from Manchester United, Manchester City, Chelsea, Arsenal, Liverpool and Tottenham Hotspur to take part, a report in The Times today claims.

The DFL would be bankrolled by the Qatari royal family in the hope it would rival or even overtake the Champions League and Club World Cup due to the eye-wateringly high sums involved.

The DFL would involve 16 permanent members with eight other teams invited to take part in each tournament, mirror.co.uk reported.