The Premier League has cancelled Wednesday's planned meeting to further discuss the way income from overseas broadcasting deals is shared because "there is currently no consensus for change".

Earlier this month, it was decided the matter needed more consideration over whether to move away from the current rules which see the league's growing overseas broadcast revenues shared evenly.

However, the Premier League confirmed in a statement on Tuesday, it had "become clear" that there was not going to be enough support to merit moving away from the status quo.

The so-called 'Big Six' of the Premier League - Manchester United, Liverpool, Arsenal, Chelsea, Manchester City and Tottenham - believe they should get a bigger share of the lucrative overseas broadcasting deals because of their greater popularity abroad.

A two-thirds majority would be needed to change the current set-up, and Premier League executive chairman Richard Scudamore had hoped to persuade at least 14 of the 20 clubs to back the proposal when they met in London on October 4.

Scudamore's proposed compromise is to allocate 35 per cent of the overseas pot according to final league position, which is a similar formula to how the domestic rights are shared out.

Last season, this would have given Chelsea an extra £12.4m and reduced Sunderland's take by the same amount - but with the Premier League's overseas income rising faster than its domestic revenue, this differential would only grow.

However, the Premier League confirmed any plans for change would now be shelved, at least in the short term.

The Premier League's plans have been put on hold (Getty)

A statement from the Premier League issued on Tuesday afternoon read: "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 that there is currently 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."

Global rights for the Premier League are only expected to increase, which has focused attention on a revenue stream that was not worth arguing about when the structure was set up in 1992.

The apparent setback to brokering a new arrangement could well now revive talk of breakaway leagues and clubs selling their own rights, bringing an end to a 25-year truce that has seen the Premier League become a leading national export and the world's richest football league.