The majority of Premier League clubs have failed to agree on a new proposal that would change the way they receive money from overseas broadcasting deals.
The league says there is currently “no consensus for change” after a proposal that 35 per cent of international television revenue should be allocated according to where a club finishes in the table, with the remaining 65 per cent distributed equally to all clubs.
Manchester City, Manchester United, Tottenham, Chelsea, Arsenal and Liverpool were understood to have favoured a change to the current equal distribution of cash, in addition to Everton, West Ham and Leicester.
Fourteen clubs were needed to agree to approve any changes and a club meeting, scheduled to take place on Wednesday, will now not go ahead.
In a statement, the Premier League said: “Clubs have been discussing the distribution formula for their international broadcasting revenues.
“The Premier League has facilitated these discussions, to bring together the wide range of views which exist. It has become clear that there is currently no consensus for change, meaning tomorrow’s club meeting is not necessary.
“The way the Premier League operates, clubs can bring forward a proposal at any time. In the absence of a significant majority in favour of doing things differently, the current rules will apply.”
Premier League clubs could see the value of their international broadcasting rights rise by as much as 15 per cent per year over the next decade, Sky Sports News understands.
The league’s 20 clubs discussed projections that three-year deals in more than 60 territories around the world could produce growth in revenue of between 40 to 45 per cent.
The Premier League currently receives more than £1billion a year from all overseas deals, which it shares equally between its clubs.