The new European Rugby Champions Cup, which will be run by a Swiss-based association called 'European Professional Club Rugby' (EPCR) instead of current organisers European Rugby Cup (ERC), will consist of teams from the Six Nations' countries.
Under its new guise the competition will involve 20 teams, with six qualifying from the English Premiership, six from the French Top 14 and seven from the Pro12, which includes teams from Scotland, Wales, Ireland and Italy.
A minimum of one team from each of the Pro12 countries will be guaranteed a place in the tournament, while the remaining spot will be decided by a playoff between the seventh-placed teams in England and France.
The long-running battle with the ERC started in June 2012 when English Premiership and French Top 14 clubs raised concerns over who organises the competition, who plays in it, and how much teams get paid.
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A number of proposals were put forward to replace the current format, which has been in existence since 1995, but the different unions failed to agree terms.
"The benefits will be seen far and wide, from the clubs to the supporters, sponsors and everyone who has followed the fabulous mix of high class rugby and good natured rivalry - all played out in many spectacular towns and cities in Europe," England's RFU Chairman Bill Beaumont said in a statement.
French club Toulouse have won European rugby's top prize on four occasions, more than any other side.
(Reporting By Michael Hann; editing by Toby Davis)
