From Eurosport.... The G-14 club pressure group has been disbanded after reaching agreement with FIFA and UEFA on a number of points, including financial compensation for players competing in European Championships and World Cups. Court claims by the lobby group against the ruling bodies will also be withdrawn. The G-14 - represented by 18 of the biggest European clubs, including English outfits Arsenal, Manchester United and Liverpool - was chaired by Lyon president Jean-Michel Aulas. They have long been in dispute over compensation for players injured while on international duty. FIFA's website stated: "FIFA, UEFA and a number of top European clubs are pleased to announce that they today signed a letter of intent which starts a new chapter in the relations between the governing bodies and the clubs. "The representatives of the organisations present agreed on the intention to regulate their future relationship with a number of actions. "These are to include the planned evolution of the European Club Forum into the European Club Association; the formal signature of a memorandum of understanding with UEFA; and subsequently the dissolution of the G-14 with the withdrawal of its claims in court. "As part of the planned moves, UEFA and FIFA will enter into a series of commitments including financial contributions for player participation in European Championships and World Cups, subject to the approval of their respective bodies." FIFA president Sepp Blatter was positive about the new relationship and what it may mean for the future of the sport. "Something very special has happened today," he said. "The clubs, which are the basic cells of our game and fundamental to its thriving, are at last to become a part of the pyramidal football organisation. "Today's letter of intent gives a big boost to football. We have reached this positive conclusion by taking care of the legitimate aspirations and requests of clubs to access the decision-making levels of international football." UEFA president Michel Platini commented that the move was inevitable in the current climate of the modern game. "The demands of the clubs to be heard and to be associated, also financially, are well-founded," he acknowledged. "The letter of intent signed today is not a political step, but a logical one." Barcelona president Joan Laporta lauded Platini, whose term began last year, for the part he played in the deal. "I compliment the UEFA president on having implemented the change he promised when he came to office," he said as spokesman for the clubs. "Friendship and confidence is the basis for our game. It is a victory for all." The European Club Association will be made up of over 100 clubs from all across Europe, including at least one member from each of the 53 European national governing bodies.