Premier League facing tight deadline and double problem to complete landmark £836m deal

Premier League chiefs are facing a defining few days to complete a stunning £836million financial settlement which requires the backing of at least 14 clubs. On Monday, March 11, all participants of England's top flight, including Manchester United and Manchester City, will be asked to approve a revised version of a 'New Deal', according to a new report by Sky News.

Just days before the publication of legislation to establish English football's first statutory regulator, the Premier League are scrambling to complete the deal for funding and cost controls. Many previous versions have been rejected, however there is hope the latest will be presented at the next Premier League shareholder meeting, before being submitted to the English Football League (EFL)

The 'New Deal', presented in partnership with the EFL, will include proposals for an increased levy on player transfers. With other proposals being turned down, the newest includes provisions for an immediate £44m payment to the lower leagues, followed by a further £44m within months.

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The combined £88million would be repayable by the EFL over a six-year period. There are concerns however, that the resolution will not be passed as 14 clubs are needed to approve it, with two already said to have opposed the deal. It is also understood the vote has been made independent of any conditions attached to wider financial reform by the Premier League, which has seen alarm bells ring for a number of top-flight owners.

Monday's vote is expected to be the final bill put