Uefa president Lennart Johansson has dismissed the idea of limiting each country's participation in the Champions League to three clubs.
Johansson has been in charge of Uefa since 1990
Michel Platini, who is opposing Johansson in January's presidency election, made the proposal last month.
But Johansson said he favoured keeping the current system.
"I am happy with the situation, that we gave favour to the bigger countries because they give us the financial stability," the 76-year-old said.
England, Spain and Italy all currently have four places in the Champions League.
With me, it is like a red wine - I get better year by year
Uefa president Lennart Johansson
Johansson, who has been in charge of European football's governing body since 1990, is currently campaigning in London in his bid for a fourth and final term as Uefa president.
The Swede is 25 years older than his rival Platini but he is keen to play down fears about his age.
"There are reasons people think a man of my age should leave, but I have been asked by so many people to stay in crucial times," he said.
"We have the independent review to come through with all the nations so we know what we can and cannot do.
"We have all the betting and bribery scandals, and it takes somebody who has some experience and contacts, being known in the market."
He added: "I am fit and with me, it is like a red wine - I get better year by year."