The competition this year has been with anger by fans for allowing 16 academy teams to participate, with fan attendances plummeting.
Changes to the cup included: A significant increase in prize money, a revised format including 16 invited teams and a return to the previous 48-team competition, exclusive to League One and Two.
It was a first EFL Trophy for the Sky Blues after they won in early AprilGetty Images
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EFL Chief Executive Shaun Harvey said: “We committed at the outset of this season’s competition to conduct a full and comprehensive review of the competition and, importantly, give our Clubs the ability to ensure they make the key decisions regarding where we take the competition in 2017/18 and beyond.
“After asking clubs in advance for some initial thoughts on the competition, today was the next stage of the process and I’m delighted we were able to have such a full and frank exchange of views that will now assist the Executive in refining a final proposal that our clubs will now vote on.”
The trophy has been in existence since the 1983-84 season – Coventry City are the current champions, having beat Oxford United 2-1 at Wembley Stadium on April 2.
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