Football Association chief executive Martin Glenn has poured scorn on the prospect of the Premier League's biggest clubs breaking away to form a European Super League.
Directors from five Premier League clubs met in London this week to discuss the format of European competition with American sports executive Charlie Stilitano, sparking speculation a European super league was being considered.
Stilitano later told an American satellite station that a European super league was "on the agenda" with the continent's biggest clubs, who he said should be given automatic entry into the Champions League.
But Glenn said such a prospect would kill competition and deprive clubs such as Leicester, who have mounted an against-the-odds title challenge this season, of deserved rewards for their achievements.
"Football has to keep evolving [but] we can't lose the principles of promotion and relegation," the FA chief told the BBC.
"Isn't it brilliant to see a team like Leicester upsetting the applecart? And that's only possible because the Premier League shares the riches quite evenly, in contrast to most other European countries where a few teams get the lion's share.
"It would be a real shame to miss that, a real shame to not have a Leicester phenomenon every year to bring in some variety and challenge."