I do agree with Lewie. I wouldn't say I'm against the idea, but I'm not sure how well it would work. It would probably be a great game for those top teams should would be winning most of their matches, but those bottom teams who lose often would lose all their good players, meaning then they wouldn't be able to win any games to gain new players and keep losing players...
A solution could possibly be to choose the twelve best teams from Europe and put them in a league or a competition together. Much closer league, most teams would have a reasonable balance between wins and losses.