GENEVA, Jan. 20 (Xinhua) -- Ice hockey's governing body IIHF plans to relaunch the Champions Hockey League in October with 16 teams from nine European nations.

The IIHF says it made a proposal Thursday to officials and clubs from Austria, Belarus, Czech Republic, Finland, Germany, Russia, Slovakia, Sweden and Switzerland.

Investment of 17.6 million Swiss francs (18.2 million US dollars) over three years would include settling compensation claims from clubs who qualified for the canceled 2009-10 season.

The Champions League launched in 2008 with 10 million euros ( then 14 million dollars) in annual prize money but folded when Russian sponsor Gazprom withdrew.