OXFORD United will come up against a Premier League academy team in a group stage as part of a revamped cup competition next season.

Chairmen at today's English Football League annual general meeting in Portugal approved the changes, which will see the EFL Trophy replace the Johnstone's Paint Trophy.

United, who received a bye in the first round, played five games in the competition to reach the Wembley final in April, where they lost 3-2 to Barnsley.

All teams will now have to play a minimum of three fixtures.

Under the new format, which will be piloted for one season, 16 of the 21 existing category one academies, most of them belonging to top-flight teams, will be invited to join a 64-team competition.

It will then start with 16 groups of four, before becoming a knock-out with a final at Wembley.

The Premier League is also understood to have provided £1million to create a total prize fund of £1.95m, with bonuses awarded for each win.

The elite academy sides will be evenly distributed throughout the groups with the 48 clubs from Leagues One and Two, with the competition continuing on a north/south basis until the final.

Each team will play each other once in the group stage, with the academy team getting just one home game.

Also at the AGM, former Oxford United owner Ian Lenagan was ratified as the EFL's new chairman.