Liverpool and Manchester United were in talks to help out the clubs in the lower leagues, for a significant compensation in their status as one of the biggest clubs in the Premier League, with a boost in the voting powers vested in them.
New proposals backed by Liverpool and Manchester United for wide-ranging reform of English football have been criticised by the UK government, Premier League and fans' groups.
"Additionally, Uefa look to us to nominate the league, and therefore the clubs, that will play in their competitions". "The Premier League will ultimately become an uncompetitive sideshow which will dramatically affect the future revenues that EFL clubs are so seduced by".
The nine longest-serving clubs in the league would have been given preferential votes with only six of them needing to agree in order to make a decision.
The controversial proposed shake-up for English football has been rejected by Premier League clubs following an emergency meeting yesterday.
The perceived power-grab has seen Project Big Picture receive fierce criticism, though The Athletic are now reporting that former Man City and FA chairman Bernstein is set to unveil a similar - yet alternative - proposal which could provide the necessary financial security for the EFL without handing increased power to the wealthiest clubs.
"Clubs don't have every detail as yet on Project Big Picture, but it would appear on information provided to date to bring a short and long-term solution to making clubs more sustainable throughout the football pyramid especially in Leagues One and Two", Town's CEO told the Shropshire Star before its rejection.
"All 20 Premier League clubs today unanimously agreed that "Project Big Picture" will not be endorsed or pursued by the Premier League, or the FA", the Premier League said in a statement on Wednesday.
The FA has threatened to ban the Premier League's "big six" from entering the Champions League, if they go ahead with a potential breakaway.
According to di plan dem go cut Premier League from 20 to 18 clubs, di Championship, League One and League Two each go still remain wit 24 teams.
The Premier League had given £27.2m of solidarity payments to League One and League Two earlier this year.
However, Liverpool and United are among the top sides to argue they generate greater interest in the league and attract a larger share of the global audience than many of their rivals, believing their influence should be proportionate to their popularity.
British Prime Minister Boris Johnson said the project was the "type of backroom dealing that undermines trust in football governance", while the Premier League warned some of the plans would have a "damaging impact on the whole game".
It remains to be seen whether Liverpool and United will attempt to pursue a breakaway league more aggressively, but Wednesday's meeting suggests they now face an uphill battle to garner enough support.
Speaking about the idea of a Premier League bailout for EFL clubs, who are facing financial catastrophe due to the coronavirus crisis, Dowden referred to the fact that top-flight clubs had spent more than £1 billion (RM5.4 billion) in the summer transfer window.