Sustainability requires better regulation, but equally important is redistribution, because we can demonstrate two-thirds of our clubs are insolvent," said Parry.

This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.He said it was "sobering" that there had been an "enormous divergence" in the respective revenues of the two leagues over the last 30 years. The future of the EFL Cup The government is close to revealing plans for some of the biggest changes to the way football is run for decades with the creation of an independent regulator. The group's report, 'Solutions For Our National Game', rejects the idea that a reformed Football Association could perform the role.

A further eight teams from lower down the pyramid are also on board, while it says it is in discussions with "dozens more clubs". City won the first leg 3-0 at Etihad Stadium and a semi-final against holders Real Madrid awaits the winner. Our view is absolutely that it has to," said Parry, who expects a white paper - the government's plans for the legislation - to be revealed later this month. History is tomorrow, we don't play against history. We don't play tomorrow against what they achieved. I've been in this type of club, their belief is something special," added Guardiola.

How long do parachute payments last? 

Teams that only spend one season in the Premier League before being relegated receive the money over just two years. It says the FA "is not independent, as it is in direct competition with the professional leagues for sponsorship and national team players' time" and because it is a "commercial actor" in the game. Pep Guardiola's side hold a 3-0 first-leg lead over Bayern Munich in the quarter-finals going into Wednesday's fixture in Germany. And this could come as soon as next year, when the government-appointed independent regulator for English football is due to take office and will mandate the new deal if no agreement has been reached already.