English football's top flight will urge its 20 clubs on Monday to support a revamped deal with the lower leagues that will include two repayable instalments of £44m, Sky News learns.

Premier League bosses are this weekend scrambling to finalise a landmark £836m financial settlement just days before the publication of legislation to establish English football's first statutory regulator.

Sky News has learnt that the 20 top-flight clubs, which include Aston Villa, Liverpool and Tottenham Hotspur, will on Monday be asked to approve a revised version of a 'New Deal' with the English Football League (EFL) that will include proposals for an increased levy on player transfers.

Industry sources said that if the New Deal was approved at the Premier League shareholder meeting, it would then be submitted to the EFL for ratification.

The revamped blueprint, which comes after several previous versions were blocked by Premier League clubs, includes provision for an immediate £44m payment to the lower leagues, followed by a further £44m within months.

This £88m, however, would effectively be pitched as a loan that would be repayable by the EFL over a period of more than six years.

On Saturday, there were growing signs that the Premier League would struggle to obtain the required support of 14 clubs to approve the resolution, with at least two clubs said to have already decided to oppose it.

The Premier League is understood to have decided to make the vote independent of any conditions attached to wider financial reform of English football, which has alarmed a number of top-flight owners.

Anxiety has been heightened in recent weeks by the disclosure - revealed by Sky News - that an unnamed club, said to be reigning champions, Manchester City, is pursuing legal action to overturn rules on associated party transactions.

Some analysts have flagged privately that if Manchester City was successful in its action, it could have grave implications for the entire system of Financial Fair Play across Europe.

The £836m, which rises to £924m with the additional instalments totalling £88m, is partly hypothetical in that it is based on a calculation of net media revenues.

Monday's vote is likely to be the last before the government publishes the Football Governance Bill, which will pave the way for the establishment of a new regulator with powers to impose a financial redistribution agreement on the sport.

The legislation is likely to be introduced this month, according to Whitehall sources.

Rishi Sunak has warned English football's power-brokers that a deal will be introduced regardless of their willingness to agree it - a threat which has sparked fury among club-owners who believe the Conservatives are themselves risking the financial sustainability of the professional game.

"My hope is that the Premier League and the EFL can come to some appropriate arrangement themselves - that would be preferable," the prime minister said in January.

"But, ultimately, if that's not possible, the regulator will be able to step in and do that to ensure we have a fair distribution of resources across the football pyramid, of course promoting the Premier League but supporting football in communities... up and down the country."

Under the deal to be presented on Monday, the existing 4% transfer levy would rise to 6%, and then 7%, during the duration of the agreement with the EFL.

One source said the increased levy would put the Premier League at a financial disadvantage against other European domestic leagues including in Germany, Italy and Spain.

Funding for the New Deal would also be derived from existing mechanisms which are used fund the Premier League's annual solidarity payments to the EFL.

Some Premier League bosses believe the initial £88m to be handed over this season, which would come from the top division's financial reserves, would not, ultimately, be subject to repayment.

A meeting late last month did not proceed to a vote, even after talks between Lucy Frazer, the culture secretary, and the 92 professional clubs, in which she urged them to resolve their differences over the prospective agreement.