It'd be sad to lose promotion and relegation, but I think Europe has outgrown the traditional 20th century system. It doesn't work anymore.

Bring together the 30 biggest UEFA clubs, get some salary caps and acquisition rules with teeth. Get corrupt nation states out of team ownership. Close up the system and let the teams prosper according to their organizational genius.

Imagine a Euro league like today's NFL where any team is 2-3 years of good decision-making away from plausibly lifting the European championship trophy.