Premier League clubs are reportedly set to vote on a new financial proposal which could see English teams become more competitive on the European stage. It is understood that Crystal Palace are the driving force behind the idea, though it is Aston Villa who will be the beneficiaries in the short term.

UEFA’s coefficient payments currently uses a club’s last ten years of performances in European competitions when determining how finances are split. Thus, Manchester City are said to have received a significant £28million compared to Newcastle’s £3.8m this season.

However, according to The Times, Crystal Palace have proposed that changes are made to the coefficient payments which could improve how English sides fare in top European competitions.

The proposed changes would see the Premier League’s Profit and Sustainability Rules (PSR) altered to allow teams to claim the difference in coefficient funding between themselves and the top club in Europe as ‘allowable losses’.

Newcastle were dumped out of the Champions League in the group stages this season and cited that PSR problems were the root of their problems, with the limits in place preventing Eddie Howe’s side from bolstering their options ahead of the start of the campaign – with injury problems highlighting their lack of depth as a result.

Villa will be hoping that they do not suffer the same fate as their rivals, and the proposed changes would allow them to spend an additional £20m to £30m – which is enough funds to bring in at least one top-quality star.

Crystal Palace chairman Steve Parish has spoken openly about how UEFA’s current system is somewhat outdated and has long claimed that the system needs amending to make it fairer in the short term.

The Eagles’ proposal will be raised at the Premier League’s annual meeting next week, with several significant topics on the agenda.

Wolves’ proposal to ditch VAR is expected to be a significant talking point during the meeting, though it has been widely reported that clubs are expected to vote in favour of retaining the current system in hope that the issues raised by Gary O’Neil’s side will prompt improvements from within the officiating ranks, and for PMGOL to take the relevant issues on board ahead of next season. Villa are also set to propose a separate PSR change.