A key decision on the potential removal of the Premier League's debated PSR regulations and adopt an "alternative system" is reportedly "coming up", according to the league's top executive Richard Masters.
Existing rules, introduced in 2015-16 to curb excessive club spending, permit a £105 million deficit over a three-year reporting cycle.
Yet, they have faced criticism by several top-flight teams for limiting their ability to invest.
Sources suggest that a decision on any changes is likely to be made at a meeting in November.
In February clubs chose to continue with PSR for the ongoing campaign.
However a squad cost ratio (SCR) system of financial control was adopted by the Premier League on a trial, non-mandatory footing.
SCR is similar to Uefa's current financial regulations and enables teams to expend up to a portion of their overall income on squad-related costs.
Nearly half of Premier League teams already have to comply with Uefa's SCR as a consequence of European qualification.
Both Chelsea and Aston Villa were penalized by European authorities recently for breaching the rules.
Asked about SCR at the Leaders sports conference in London, Masters said: "We are consulting with our teams about an alternative system.
This doesn't imply we don't think the PSR system works."
He added: "It's about closer alignment with continental rules, which is squad cost ratio, which is a revenue test.
European standards currently mandate 70%. Our system will be 85% because we always want our clubs to have the capacity to spend.
"English football's top division was established on the back of investment in which international capital flows are coming in. We aim to prevent this from being stifled off."
Previous Rule Breaches
Premier League clubs two historic clubs were penalized with point deductions in the previous campaign for violating financial rules.
In 2023, Aston Villa's co-owner the club's co-owner claimed the rules "do not make sense" and favored established teams, while he was considering legal action against the rules.
Having been forced to offload players to adhere to the rules, Newcastle manager Eddie Howe has also been critical of PSR, saying it incentivises clubs to part with homegrown talent.
"Financial sustainability rules represent retrospective profit assessment and has its own advantages and drawbacks. No system will be perfect," said Masters.
"We have to keep these things balanced and persist with discussions with our clubs, and that's an important decision, so we should take the time to ensure accuracy. But that decision is coming up."
Additional Financial Models
The Premier League is also trialling an alternative framework called 'top to bottom anchoring' (TBA) which effectively caps the amount any club can spend as a multiple of the income generated by the lowest-earning club.
Information indicates the proposed regulations - if approved could also include TBA, and would come into force at the beginning of the upcoming campaign.
Record spending during the summer player acquisition period amplified certain Premier League teams' worries about PSR, and whether changes are needed to protect competitive balance given the additional revenues being earned by participants in the expanded Champions League and global club tournament.
