"Theoretically a telephone conference of the executive committee should be held on Friday morning," spokesman William Gaillard said, adding that a decision should be released later that day.

Liverpool beat AC Milan on penalties to win an astonishing Champions League final in Istanbul on May 25.

But the Merseyside club, who finished fifth in the English Premier League, could be confined to the UEFA Cup next season unless European football's governing body amends its rules.

"It will not be a decision only about Liverpool, it will be a decision about whether or not a champion can defend their title," Gaillard told AFP.

Once a decision on the principle is reached, then the executives will examine whether more than four clubs from a single association -- not only the English one -- can play in the Champions League, Gaillard emphasised.

Subsequently the telephone meeting will decide if the decisions can be implemented for the forthcoming season, he added.

UEFA President Lennart Johansson has come out in favour of Rafael Benitez's team taking part in next season's Champions League.