Five Scottish Premiership clubs have commissioned independent advisors to conduct a review of the SPFL.
Aberdeen, Dundee, Dundee United, Hearts and Hibernian say the primary focus is to identify "ways of unlocking significant additional revenues for the benefit of all".
The five teams have encouraged other member clubs to engage with the process and say they will publish the key outcomes and recommendations, once the process is complete in around six months.
It has also been made clear the review is not a move to help "bigger clubs", with a statement from the five clubs adding that "a rising tide lifts all ships".
The strategic review will cover four areas: commercial growth; the SPFL brand; SPFL structure, governance, organisation, resources, and competition and strategic projects.
The governing body for the leagues has endorsed the move.
Responding to this afternoon's release, SPFL chief executive Neil Doncaster said: "The SPFL Board has already been in discussion with a number of the clubs involved regarding this independent strategic review. We wholeheartedly welcome and support any initiative that has the good of the game at its heart.
"We know Deloitte well and the SPFL will play a full, active and positive role in the process and we look forward to seeing what proposals and innovations emerge from it."