A-League clubs are set to enter the new financial year not knowing the size of their grant for next season after rejecting Football Federation Australia's latest funding offer.

The rift between club chairmen and the FFA deepened on Tuesday when several clubs rejected the governing body's latest proposal, some labelling it "a slap in the face".

FFA CEO David Gallop has rejected the clubs' claim they were being undervalued. Credit:Getty Images

After all 10 club owners stormed out of a meeting with the FFA in early May in response to the initial offer of $3.25 million, an improved offer of $3.55 million with several conditions failed to appease the clubs, who are demanding a significant improvement in their share of broadcast, merchandising, sponsorship and ticketing revenue after years of incurring significant losses.

Despite signing a record broadcast deal with Fox Sports in December worth $56 million per season, the FFA is yet to reach an agreement with the clubs on their share of the windfall. The clubs are suggesting the A-League is responsible for 85 per cent of the value of the broadcast deal as well as other revenue streams received by the FFA, such as its sponsorship deal with Hyundai.