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This is the most obvious way to make the competition better, but it's unlikely to happen.
There are already a number of highly talented players under the age of 23 participating in the competition this year, such as Neymar, Gaston Ramirez and Jack Butland, but just imagine if all the teams participating were at their strongest.
The European teams would still be a bit diluted due to the European Championships, but the coaches would have a much greater pool of talent to draw from.
Of course, FIFA would have a problem with this as it would make the competition almost like a second Word Cup, but a distinction could still be made, especially considering that football would not be the main spectacle at the Games.
The Olympics is about the best athletes showing their skills for their countries and fans are not getting that with football.
At the most, it would be a mini-version of the World Cup, considering only 16 teams participate as opposed to 32.