FIFA will review a plan for a new competition backed by Saudi Arabian state money this week.
A new 24-team Club World Cup will be discussed at FIFA's council meeting in Kigali, Rwanda, on Thursday and Friday.
Talks on the issue are back on the agenda after being put on the back burner earlier this year while a proposed new global Nations League will be discussed.
A consortium led by Japan's SoftBank and backed by Saudi Arabia's sovereign wealth fund had pledged €22 billion for a 12-year deal for the two competitions.
Manchester United and Liverpool are reportedly among 12 European clubs who would be invited to the competition, earmarked for the summer of 2021, and held every four years instead of the Confederations Cup.
Saudi Arabia is under pressure following the murder of journalist Jamal Khashoggi, a vocal critic of the state, at the country's embassy in Turkey.
A number of businesses have severed their ties with Saudi while governments have criticised their actions, though it remains to be seen whether this influences FIFA's decision or not.