Publisher Sega said the new Football Manager 2013 "marks a seismic shift" in the development of the series.
Football Manager Classic - bundled for free - will allow full seasons to be played out in less than ten hours, marking a significant decrease from the full version of the game. It also includes various arcade-style challenges as well as a new microtransactions model.
Within Classic mode, players also have the option to select a number of challenges designed to test their management skills. Managers can join clubs mid-season in a bid to pull them out from danger of relegation, or to push a mid-table team for European qualification.
Classic mode adds various 'unlockable' features that can ease the difficulty of the game. Players can remove the need for work permits, for example, or add cash to their transfer budgets.
This is where Football Manager adds in a new microtransactions model, with players allowed to either earn the features or pay for them themselves.
"The introduction of Football Manager Classic is a major step forward in Football Manager's evolution," said Sports Interactive studio director Miles Jacobson.
"In recent years it's become clear that there's a large group of people who would like to play Football Manager, but simply can't devote the time required to get the most out of the game - in fact, now that they have families and other commitments, even some members of the SI team have found themselves in this position.
"We decided, therefore, to try to find a way to accommodate players with limited free time, without significantly diluting the experience. We believe that FMC achieves this beautifully.
"I would, however, like to stress to our many, many fans around the world that the introduction of FMC will not impact in any way on the game that they've come to know and love. For those who still want the full, 'hands-on' experience, FM13 offers exactly what they're looking for - a bigger, better and even more immersive version of the world's greatest football management simulation."