Arsenal, along with Man City, Man Utd, Liverpool, Chelsea and Sp*rs, have had to concede defeat in their attempt to have the overseas Premier League rights money distributed differently.

While the current system sees everyone receive the same amount – last season this was £39,090,596 per club – the sides who traditionally finish in the highest positions were seeking a bigger slice of the pie.

They had proposed that 35% of the overseas income would be pooled and then distributed based on performance and final league position, meaning the higher you finish the more you earn.

This would have adversely affected the majority of clubs, and although Everton, West Ham and Leicester were also thought to be in favour, it would have left them without the required two-thirds majority.

Last month a meeting about this issue failed to reach a conclusion, and ahead of tomorrow’s planned get-together to thrash out a deal, the Premier League have issued a statement accepting no agreement was likely to be made.

They 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 there is 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.