Premier League 2 is a new competition that replaced the Under-21 Premier League from 2016/17, with a greater focus on technicality, physicality and intensity to bring players as close to first-team experience as possible.
The age limit for players has risen from Under-21 to Under-23.
The league will take on the same format of two tiers, Division 1 and Division 2, with 12 teams in each, and the factor of promotion and relegation.
The 24 clubs who compete each applied for 'Category One' status in the Elite Player Performance Plan (EPPP). There are 15 clubs from the Premier League and nine clubs from the Championship.
All players born after 1 January 1993 for the 2016/17 season are eligible to play, and the format stays as follows:
Other rules include:
Everton have secured the 2016/17 PL2 Division 1 title with a match to spare, while Swansea City won Division 2 by a margin of 11 points.
Manchester United were crowned champions in the competition's first season, when it replaced the Premier Reserve League in 2012/13, beating Tottenham Hotspur 3-2 in the final at Old Trafford.
Chelsea sealed the 2013/14 title with a 2-1 final victory over Man Utd at the same venue, before the Red Devils reclaimed the crown in 2014/15 and won it again in 2015/16.
Middlesbrough were the first Division 2 champions when promotion and relegation was introduced in 2014/15, before Derby County clinched the title in 2015/16.
Teams in Division 1
Arsenal, Chelsea, Derby County, Everton, Leicester City, Liverpool, Manchester City, Manchester United, Reading, Southampton, Sunderland, Tottenham Hotspur
Teams in Division 2
Aston Villa, Blackburn Rovers, Brighton & Hove Albion, Fulham, Middlesbrough, Newcastle United, Norwich City, Swansea City, Stoke City, West Bromwich Albion, West Ham United, Wolverhampton Wanderers
Premier League 2 Division 1 winners
2015/16 Manchester United
2014/15 Manchester United
2012/13 Manchester United
Premier League Division 2 winners
2016/17 Swansea City
2015/16 Derby County