Unlike the previous tournament, teams would have qualified based on league performance rather than by invitation.
Major League Soccer and Liga MX announced the cancelation of the tournament on May 19, 2020, due to the ongoing COVID-19 pandemic.
The 2019 Apertura, 2020 Clausura, and 2019–20 Copa MX champions would have qualified for the Leagues Cup, plus the top five teams from the combined 2019–20 Liga MX standings who had not already qualified.
The 2020 edition of the Leagues Cup was planned to be the first to use a draw and seeding for participating teams.
The initial draw would have matched up an MLS team against a Liga MX team in the Round of 16, while a second draw before the quarterfinals would have allowed for reseeding and adjustments to allow for interleague play.