Participating nations were: Italy, Austria, Czechoslovakia, Hungary, Switzerland, Poland, Romania, and (in the final competition) Yugoslavia.

Played as a league on a home and away basis, it was contested six times and each single tournament usually took more than two years to complete.

Meisl was also behind the launch of the Mitropa Cup, a knockout competition for club teams from the same countries which also began in 1927.

This time the team was coached by Vittorio Pozzo and either side of winning this competition they also won two World Cups in 1934 and 1938.

This tournament marked the advent of the Golden Team of Hungary, coached by Gusztáv Sebes and featuring Ferenc Puskás, Zoltán Czibor, Sándor Kocsis, Nándor Hidegkuti, József Bozsik and Gyula Grosics.