The Football League Cup, commonly known as the League Cup or by a name referring to the current sponsor, is an English men's association football competition. Like the FA Cup, it is played on a knockout basis. Unlike the FA Cup, where 758 teams entered in 2012–13, only 92 clubs can enter the League Cup – the 20 Premier League clubs, and the 72 clubs of The Football League, which organises the competition. Also unlike the FA Cup, the semi-finals are played over two legs. The winners qualify for the UEFA Europa League, unless they have qualified for the Champions League through their league position, in which case the Europa League berth goes to the highest-placed team from the Premier League not already qualified for Europe. Swansea City are the current holders.
Although the League Cup is one of the three major domestic trophies attainable by English league teams, it is perceived by larger clubs as a lower priority than the league championship, UEFA Champions League, and the FA Cup. League Cup winners receive £100,000 prize money with the runners-up receiving £50,000, considered relatively insignificant to top flight teams, compared to the £2 million prize money of the FA Cup, which is in turn eclipsed by the Premier League's television money and consequent participation in the Champions League.