The Football League consists of 70 professional association football clubs in England and 2 in Wales. It runs the oldest professional football league competition in the world. It also organizes two knockout cup competitions, the EFL Cup and EFL Trophy. The Football League was founded in 1888 by then Aston Villa director William McGregor, originally with 12 member clubs. Steady growth and the addition of more divisions meant that by 1950 the League had 92 clubs. Financial considerations led to a major shake-up in 1992 when, in a step to maximize their revenue, the leading members of the Football League broke away to form their own competition, the FA Premier League, which was renamed in 2007 as the Premier League.[5] The Football League therefore no longer includes the top 20 clubs who belong to this group, although promotion and relegation between the Football League and the Premier League continues. In total, 136 teams have played in the Football League[6] up to 2013 (including those in the Premier League, since clubs must pass through the Football League before reaching the former).