Manchester City was reportedly the only party not to back new Premier League financial rules on Monday, as clubs scrambled to make deals before facing regulatory intervention.
Though the league secured enough votes to pass new profit and sustainability rules, Manchester City abstained and was the only club not to back these, as per Sky News.
This came as clubs met to hash out a new £924 million revenue distribution package for the English Football League (EFL), which was reportedly scrapped due to lacking support.
Premier League clubs have faced pressure from the government to increase payments, which are funded by media rights sales, to the lower leagues of the EFL.
Monday’s meeting was likely the league’s final opportunity to agree to such a deal before the government introduces a new independent football regulator, with the power to impose an agreement, in the coming weeks.
"Clubs agreed to prioritise the swift development and implementation of a new League-wide financial system,” the Premier League said on Monday.
"Alongside this, Premier League clubs also re-confirmed their commitment to securing a sustainably-funded financial agreement with the EFL, subject to the new financial system being formally approved by clubs.”
New rules are said to align with UEFA regulations limiting clubs in European competitions to spending 70% of revenues on player transfers.
These will still need to be signed off in June’s annual general meeting, with Manchester City already in legal disputes with the league over its financial fair play rule, including on associated party transactions.
The scrapped package would have hiked annual payments from around £130 million to £185 million a year for the EFL's 72 clubs to share.