The EFL has welcomed the collapse of the European Super League and said football now needs dramatic financial reform.

The league today issued a statement following the news that six Premier League teams had pulled out of the planned new continental competition.

The withdrawal of Manchester United, Manchester City, Arsenal, Liverpool, Chelsea and Tottenham came after huge protests and criticism about their participation in the closed-shop European league.

It left the scheme in tatters just 48 hours after it was unveiled.

The EFL's statement, shared by Carlisle United, highlighted the importance of fair competition, while league chiefs said football's financial structure needed major change.

The statement said: "With widespread opposition met at home and abroad, including from the EFL, these divisive [Super League] proposals threatened the sporting principles of the football pyramid that our founding members pioneered over a century ago.

"Across the globe, people in and outside of the game spoke up when it counted. The EFL is heartened by the response and remain proud to be part of a unified footballing system that promotes open competition, gives everybody a chance to dream and continues to inspire generations of young people in the communities from where our clubs take their name.

"The message is clear that the pyramid must be protected above all. The European Super League failed in part due to a model of distorted and unfair financial distributions, a criticism that can also be levelled at the current financial model in our own domestic game.

"The EFL hopes the same enthusiasm can be immediately directed to achieve appropriate and much needed change to the distribution of wealth in our domestic leagues, and we will work with all parties to push for this reform.

"By resetting economically, we can support all clubs in achieving a sustainable future, promoting the principles that so many have fought for.

"Reforms must also consider UEFA’s own Champions League restructuring which pose an existential threat to our competitions, including the League Cup, which provides vital income to EFL clubs and is the breeding ground for stars of the future.

"The EFL will embrace the Government’s fan-led review and confirm we will contribute fully to help shape any decisions taken and ensure they are made in the best interests of supporters and the clubs that we represent."

United co-owner John Nixon is an EFL director as League Two clubs' representative.