It is the country's primary football competition and serves as the top division of the French football league system. Contested by 20 clubs, it operates on a system of promotion and relegation with Ligue 2. Ligue 1 is one of the top national leagues, currently ranked fifth in Europe behind the English Premier League, Spanish La Liga, German Bundesliga, and the Italian Serie A. Ligue 1 was inaugurated on 11 September 1932 under the name National before switching to Division 1 after a year of existence.