Manchester United, Liverpool, Arsenal and Tottenham Hotspur have all confirmed their withdrawal from the European Super League.
Chelsea are yet to officially confirm their intent to break the agreement, but are understood to have been the first English club to break ranks following significant protests outside Stamford Bridge ahead of Tuesday's Premier League meeting with Brighton & Hove Albion.
Man City became the first team to officially pull out of the Super League, and they have now been joined by the rest of the Premier League representatives from the 12 founding clubs.
A statement from Manchester United read: "Manchester United will not be participating in the European Super League. We have listened carefully to the reaction from our fans, the UK government and other key stakeholders.
"We remain committed to working with others across the football community to come up with sustainable solutions to the long-term challenges facing the game."
Liverpool's statement on their official website read: "Liverpool Football Club can confirm that our involvement in proposed plans to form a European Super League has been discontinued.
"In recent days, the club has received representations from various key stakeholders, both internally and externally, and we would like to thank them for their valuable contributions."
Arsenal's board took a slightly different tact, penning an open letter to supporters, including an apology: "The last few days have shown us yet again the depth of feeling our supporters around the world have for this great club and the game we love.
"We needed no reminding of this but the response from supporters in recent days has given us time for further reflection and deep thought. It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.
"As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologise for it.
"We know it will take time to restore your faith in what we are trying to achieve here at Arsenal but let us be clear that the decision to be part of the Super League was driven by our desire to protect Arsenal, the club you love, and to support the game you love through greater solidarity and financial stability.
"Stability is essential for the game to prosper and we will continue to strive to bring the security the game needs to move forward. The system needs to be fixed. We must work together to find solutions which protect the future of the game and harness the extraordinary power football has to get us on the edge of our seats.
"Finally, we know this has been hugely unsettling at the end of what has been an incredibly difficult year for us all. Our aim is always to make the right decisions for this great football club, to protect it for the future and to take us forward. We didn't make the right decision here, which we fully accept.
"We have heard you. The Arsenal Board."
Tottenham's statement was the only one to carry direct quotes from one of the people involved in the creation of the tournament, with Daniel Levy admitting "regret" over the reaction to the scheme.
"We regret the anxiety and upset caused by the ESL proposal. We felt it was important that our club participated in the development of a possible new structure that sought to better ensure financial fair play and financial sustainability whilst delivering significantly increased support for the wider football pyramid," he said in a statement on the club's official website.
"We believe that we should never stand still and that the sport should constantly review competitions and governance to ensure the game we all love continues to evolve and excite fans around the world.
"We should like to thank all those supporters who presented their considered opinions."
The withdrawal of half of the original 12 clubs appears to spell the end of the European Super League breakaway, although Real Madrid, Barcelona, Atletico Madrid, Juventus, AC Milan and Inter Milan are yet to confirm their withdrawal.