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Manchester City is believed to have withdrawn from the European Super League following widespread disappointment from fans, the Press Association reports.
Chelsea is also preparing to withdraw from the controversial football league, with the PA reporting that owner Roman Abramovich is understood to have driven the decision - having listened to fans' protests.
It leaves just four English clubs - Liverpool, Manchester United, Arsenal and Tottenham - in the competition, which was announced on Sunday.
Manchester City midfielder Kevin De Bruyne voiced his concerns of the European Super League on social media, sharing a statement on Twitter, which said: "This man comes out a little town out of Belgium dreaming of playing at the highest stage possible. I've represented the Belgium, German and English league. And also proudly represented my country.
"I have worked and competed against everybody trying to win the ultimate. But the most important word in this is COMPETING.
"With all the events that been happening the last few days maybe this is good moment for everybody to come together and try the work for a solution. We know this is a big business and I know I am part of this business.
"But still I am a little boy who just loves to play football. It's not about a certain entity in this case, it's about the football over the whole world.
"Let's keep inspiring the next generation of footballers and keep the fans dreaming."
Former Chelsea winger Pat Nevin said he saw his old club's withdrawal as the first brick in the wall that will bring the rest down with it.
Speaking on BBC Radio 5 Live as a pundit, he said: "If you suppose to put up a brick wall and show everybody this solidarity... it needs one brick to fall. If that one brick's fallen tonight and it's Chelsea, it's gone.
"I actually think it's completely gone and it's dead in the water, and we can get back to something approaching normality and arguing what the Champions League's going to look like next season. It is that big, one club coming out of it."
Former goalkeeper Petr Cech, who is now a technical advisor at the club, could be heard urging supporters to 'give everybody time' in a video posted on social media.
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