Teams like Manchester United and Real Madrid were rumoured to be receiving large influxes of cash to participate in the league.
Fans of "smaller" football clubs will be relieved to learn that the "Dream Football League" that had been rumoured to take Europe by storm in the coming years is not actually an idea that is on the table.
The Times newspaper, one of the United Kingdom's most trusted news sources, published an article on Monday morning with the headline: "When we are wrong, we will hold our hands up. It's the right thing to do."
The article goes on to state that Oliver Kay, a football reporter who is held in high esteem, was misled by a source that claimed to be close to the Qatari ownership group that controlled Paris Saint-Germain.
Kay, who had been given information in the past that turned out be true, had grown to trust this source. However, on this occasion, the man was clearly off the mark.
He was further encouraged that the league was a possibility when no team passionately dismissed the idea.
This news will come as a major relief to fans of mid-level and smaller football clubs, as it will ensure that the financial boost that was allegedly going to be given to teams that were lucky enough to be invited to participate in the DFL, is not actually going to be taking place.
Rumours were swirling that a team's involvement in the competition would land them upwards of £200 million, according to The Times.
Football purists were concerned that this massive influx of cash would not only put a ridiculous premium on top-level talent, but also price lesser clubs out of competing in any meaningful way.
So breathe a sigh of relief football fans. The Dream Football League, which was really more of a nightmare for any football purist, is now in the past.