<P> The FIFA Club World Cup is an international association football competition organised by the Fédération Internationale de Football Association (FIFA), the sport's global governing body . The championship was first contested as the FIFA Club World Championship in 2000 . It was not held between 2001 and 2004 due to a combination of factors, most importantly the collapse of FIFA's marketing partner International Sport and Leisure . Following a change in format which saw the FIFA Club World Championship absorb the Toyota Cup, it was relaunched in 2005 and took its current name the season afterwards . </P> <P> The current format of the tournament involves seven teams competing for the title at venues within the host nation over a period of about two weeks; the winners of that year's edition of the Asian AFC Champions League, African CAF Champions League, North American CONCACAF Champions League, South American Copa Libertadores, Oceanian OFC Champions League and European UEFA Champions League, along with the host nation's national champion, participate in a straight knockout tournament . </P> <P> Barcelona and Real Madrid hold the record for most victories, winning the competition three times each since its inception . Teams from Spain have won the tournament the most times, with six winners produced from that nation . The Union of European Football Associations (UEFA) is the most successful confederation of the competition with ten titles earned by six of its clubs . The current champions are Real Madrid, who were defending champions and won their third title, following a 1--0 win against Grêmio in the 2017 FIFA Club World Cup Final at the Zayed Sports City Stadium in Abu Dhabi, United Arab Emirates . </P> <P> The first final of the competition was an all - Brazilian affair, as well as the only one which saw one side have home advantage . Vasco da Gama could not take advantage of its local support, being beaten by Corinthians 4--3 on penalties after a 0--0 draw in extra time . The second edition of the competition was planned for Spain in 2001, and it was supposed to feature 12 clubs . However, it was canceled on May 18, due to a combination of factors, most importantly the collapse of FIFA's marketing partner International Sport and Leisure . FIFA agreed with Toyota to merge the Toyota Cup and Club World Championship into one event . </P>

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