The vote on sponsorship rules – which is at the center of a raging battle between the Premier League and Manchester City – is believed to be at a razor's edge with 24 hours to go.
Top parties will meet in London on Friday for a summit conference, which is expected to be followed by a vote.
The competition was forced into action after an independent panel found parts of the existing rules on associated party transactions (APTs) – deals between clubs and parties linked to their owners – unlawful following a legal challenge from City.
However, the champions have called on clubs to vote against the changes, accused the Premier League of rushing through the consultation and raised the prospect of further legal action if they were enforced.
To get the green light, the changes need the support of fourteen clubs. However, Aston Villa have already spoken out in support of City. Others, including Saudi Arabia's Newcastle United, Nottingham Forest, Chelsea, Wolves and Everton, are said to be closely considering their positions.
The meeting is of great importance and many factors play a role. Previous votes have seen abstentions and City's threat of potentially costly further legal action has not gone unnoticed across the competition.
The league's legal costs on various matters, including the ongoing hearing with City over the champions' 115 alleged breaches of financial rules, have caused concern among a large number of clubs.
A failed vote would also increase pressure on Premier League chief executive Richard Masters and, according to those close to the matter, have potentially huge consequences.
On Tuesday it emerged that Aston Villa had written to the rest of the competition and urged the competition to cancel the vote. And on Wednesday, owner Nassef Sawiris issued a statement explaining the reasoning, saying the 'embattled' Premier League needs a 'fresh start'.
Sawiris, Egypt's richest man, also told the Daily Telegraph of his concerns about the “astronomical” fees associated with the legal challenges and the need to present a “united front” to the government ahead of its arrival from an independent supervisor.
Sawiris confirmed that Villa would vote against the amendments and called for a further 90 days of reflection, which would increase the chances of a subsequent unanimous vote.
Although the Premier League declined to comment, they remain committed to going ahead with the vote.
City launched their original challenge after the league rejected a new sponsorship deal with Abu Dhabi-based Etihad Airways. The tribunal that found parts of the existing rules illegal is expected to return within three months with clarification on the status of the current rules.
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