Premier League failure affecting QPR, Millwall and Charlton branded 'disgrace' by furious Gary Neville

Premier League clubs failed to agree a 'New Deal' for EFL funding in crunch talks on Monday. The news comes in spite of the fact that the 20 top flight clubs were last month told that a failure to reach a deal with the EFL would risk one being imposed by the new Football Regulator.

The EFL funding deal is of significant importance to clubs away from the Premier League, including QPR, Millwall, Watford, Charlton Athletic and Leyton Orient in London. The hope is for greater financial stability across the football leagues in the country.

Prime Minister Rishi Sunak previously said: "My hope is that the Premier League and the EFL can come to some appropriate arrangement themselves - that would be preferable.

"But, ultimately, if that's not possible, the regulator will be able to step in and do that to ensure we have a fair distribution of resources across the football pyramid, of course promoting the Premier League but supporting football in communities... up and down the country."

Premier League clubs have agreed to a new system being introduced but failed to find a way they want that to come about. The new system is likely to be based on UEFA's model and would replace current Profit and Sustainability Rules which allow clubs to lose up to £105 million over a three-year period.

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In the future, spending on player and coach wages, transfers and agent fees is likely to be limited to a percentage of the club's revenue, starting at 90% and being reduced to 70% from 2025/26.

After failing to reach an agreement, a new vote on regulations is expected to take place in June at the Premier League AGM. A failure to make progress on Monday is viewed as a disappointment from the top-flight clubs - reports suggest a sticking point remains with some clubs arguing that 'bigger' members of the Premier League should contribute a greater percentage.

The EFL will hold a board meeting on Thursday and the lack of progress on an agreement will be on the agenda. Despite pressures, and the UK government appointing a new independent body in English football in February, there is still no timescale on the new system coming into place.

It is expected that the new deal would see an immediate £44 million payment to lower leagues, followed by a further £44 million within months. That £88 million would effectively be a loan that the EFL would repay over a period of more than six years.

According to The Athletic, the £88 million cash injection could translate to £3.52 million for Championship clubs, £528,000 for League One sides and £352,000 in League Two.

The latest breakdown in Premier League discussions came under fire from Gary Neville. The Salford City owner and ex-Manchester United man said, via the Lancashire Post: "I am more interested in the vote they didn’t have, which was to support the rest of the Football League (and) which they keep bumping down the road. It’s an absolute disgrace. It is about the welfare of the game and the sustainability of the whole league.

"The Premier League at this moment in time are negligent in their dismissive nature, just pushing it down the road, thinking ‘maybe a regulator will sort it, maybe we’ll sort it’ and not doing anything. That’s not good governance. It just demonstrates to me that they are not looking after the whole game like they should be. It angers me every time I see they have a Premier League meeting and seem to look after themselves but not look after the rest of football.”