Arsenal have become the latest club to withdraw from the European Super League.
It comes after intense pressure from fans, media and the football world after plans were confirmed on Sunday evening.
The Gunners confirmed on Monday that they are among the 12 teams to have signed up to the new competition.
However, football.london understands that all six Premier League clubs who initially put their name to the tournament will now be leaving.
Arsenal published an open letter to fans on their website which said:
The last few days have shown us yet again the depth of feeling our supporters around the world have for this great club and the game we love.
We needed no reminding of this but the response from supporters in recent days has given us time for further reflection and deep thought.
It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.
As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologise for it.
We know it will take time to restore your faith in what we are trying to achieve here at Arsenal but let us be clear that the decision to be part of the Super League was driven by our desire to protect Arsenal, the club you love, and to support the game you love through greater solidarity and financial stability.
Stability is essential for the game to prosper and we will continue to strive to bring the security the game needs to move forward.
The system needs to be fixed. We must work together to find solutions which protect the future of the game and harness the extraordinary power football has to get us on the edge of our seats.
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Finally, we know this has been hugely unsettling at the end of what has been an incredibly difficult year for us all.
Our aim is always to make the right decisions for this great football club, to protect it for the future and to take us forward. We didn’t make the right decision here, which we fully accept.
We have heard you.
The Arsenal Board
Arsenal will hold a Fans’ Forum on Thursday evening which is still expected to see the Super League become the main talking point.
Gunners boss Mikel Arteta will give his pre-match press conference ahead of Friday’s match against Everton on Thursday morning.