The Italian Football League could split in two after a meeting with Serie A and Serie B presidents ended without coming to an agreement over financial issues.
The two leagues have been at loggerheads for years over how money is distributed evenly between each club.
The matter has come to the fore recently following a number of Serie B clubs encountering financial problems.
In the latest meeting on Thursday an agreement has again failed to materialise and Serie A presidents have now confirmed that they plan to break away from Serie B.
"Nineteen Serie A clubs (with the exception of Lecce) today decided to create the 'Lega Calcio Serie A' with Maurizio Beretta put in charge of this," a statement from the new league read.
"The decision was made because of the impossibility of reaching an understanding with the Serie B clubs."
While Palermo president Maurizio Zamparini added: "We have created a new league for Serie A.
"This time it's for real. It's not satisfactory but it was necessary."
The English Premier League broke away from the Football League in a similar move in 1992 and has gone on to become one of the strongest leagues in the world.