The National League Cup, featuring 16 teams from the fifth tier and 16 Premier League 2 sides, starts next month, although four clubs have opted out.
The tournament will feature eight groups of four, with the top two from each group moving on to the knockout stage.
All Premier League 2 matches will be played away from home, allowing the host clubs to keep all gate receipts.
The total prize fund of £1m from the Premier League will go entirely to the National League clubs, ensuring financial support for lower-tier teams.
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