The Uefa Cup may be renamed the Europa Cup from the start of the 2009-10 season in a bid to raise the tournament's profile.
The plans were revealed at a meeting of the newly-formed European Club Association in which a 15-man board was also chosen.
Although today's business dealt primarily with appointing the board, it also emerged that Uefa are considering ways to make the Cup a more marketable and revenue-generating competition - with the Europa Cup suggestion being mooted.
"I believe we have to change the branding in order to increase the prize moneyand make the competition more interesting for the participating clubs," said Karl-Heinz Rummenigge, boss of Bayern Munich.
"Everyone has always had the impression that the Uefa Cup is a second-class competition and we have to do more to make it more like it was 15 or 20 years ago in terms of importance."
Uefa officials privately expressed their irritation that news of a potential name change had been made public without their approval, but confirmed that a final decision would be made at their executive committee meeting in Bordeaux at the end of September.
Rummenigge is almost certain to be named as chairman of the new forum tomorrow when a vice-chairman and general secretary will also be elected.
Liverpool chief executive Rick Parry hailed what he described as a vital step forward after being named on the board of the ECA.
Parry joined his Chelsea counterpart Peter Kenyon on the board which replaced the now defunct G14 body and will have a crucial voice in running the European game over the next two years.
"We wanted a proper say in the issues that affect us most and it is vitally important that there is an English voice," said Parry.
"This body has far greater credibility than G14, both with fellow clubs and Uefa, because it was always seen as an elite group. Now we have clubs with widely diverging interests."
Although five English clubs were among the 103 ECA members invited to today's inaugural ECA general assembly, Arsenal, Chelsea and Newcastle all had no representation at what was widely regarded as the most significant club meeting since the disbandment of G14.
