The annual FIFA Club World Cup, which was first held in 2000, involves a total of seven teams including the host country's champions and the strongest teams from the six continental confederations.

The Club World Cup title is currently held by Spanish giants Real Madrid, who are also one of the two most successful teams of the tournament alongside Barcelona, who have also lifted the trophy three times.

"We need to make sure that we raise the quality of football all around the world, not only in Europe... We have to make sure that the money is invested in the right places... We are thinking about the new Club World Cup because the base is of course of football development," Infantino told journalists.

The FIFA President added that the organization also looked to develop women's football.

"We have to invest in women's football, we are thinking about the new Women's World League because 50 percent of the world population, the ladies, need to be treated in a right way," Infantino said.

The 2018 FIFA World Cup kicked off on June 14 and will continue until Sunday, with the final set to be held at Moscow's Luzhniki Stadium.