The withdrawals by Manchester City, Manchester United, Liverpool, Arsenal, Chelsea and Tottenham came just 48 hours after the league’s unveiling late on Sunday following a furious response from fans and officials.

The three Italian clubs involved, Juventus, AC Milan and Inter Milan, admitted defeat and La Liga leaders Atletico Madrid also pulled out.

Real Madrid and Barcelona have yet to make any comment but the project in its current form is dead in the water.

AC Milan was one of the main drivers behind the plans, having missed out on the Champions League for the past seven seasons.

The seven-time European champions said the change was necessary due to the changing football landscape but admitted they “must be sensitive to the voice of those who love this wonderful sport”.

Italian champions Juventus said they remained “convinced of the soundness of the project’s sport, commercial and legal premises” but accepted it could not go ahead in its original form.

The Super League promised guaranteed entry for its founding clubs and billions of dollars in payments. Most of the clubs have huge debts and wage bills and suffered a sharp drop in revenues during the coronavirus pandemic.

But the project was vehemently opposed across the football spectrum, from fans to players, coaches, politicians and UEFA and FIFA, the European and world football bodies.

The Serie A club have been banned from participating in any of UEFA’s European club competitions next season for failing to comply to UEFA spending regulations in the period between 2015 and 2018.

Milan finished fifth in Serie A last season and will be replaced by sixth-placed Roma, who will go directly into the group stages of the Europa League.

A statement from CAS said: “AC Milan is excluded from participating in the UEFA Club Competitions of the sporting season 2019/2020 as a consequence of the breach of its FFP break-even obligations during the 2015/2016/2017 and the 2016/2017/2018 monitoring periods”.

Gattuso, took over at the San Siro in November 2017 and guided his former club to sixth place, but the Italian could only go one position better this season. Under contract until 2021, it was decided in Monday’s meeting with Gazidis, that Gattuso would move on from Milan.

Milan narrowly missed out on Champions League football for the sixth successive season, with Atalanta and city rivals Inter pipping them by a point.

Failure to secure Champions League football is also expected to spell the end for Milan’s sporting director Leonardo, who will likely resign from his post.