Complex sentence: The premier division would consist of 10 teams who, like their male counterparts, will be required to compete in all World Tour events with the second tier being similar to domestic men's teams (UCI Continental Teams).
Split into simpler sentences: The premier division would consist of 10 teams who, like their male counterparts, will be required to compete in all World Tour events. The second tier will be similar to domestic men's teams (UCI Continental Teams).