The Football League has failed to agree a new deal with the Premier League over funding.
In essence League Two clubs such as Hereford United stood to gain about £250,000 extra money from the Premier League. This is available as a result of recent TV deals.
However Football League chairmen have voted not to accept the deal at a meeting earlier today.
It appears the chairmen are unhappy with some of the proposals.
Football League chairman Greg Clarke is expected to have further talks with Richard Scudamore of the Premier League in an attempt to broker a settlement.
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