The Premier League is hoping to vote on a new model to distribute revenue to the English Football League at its next shareholders' meeting on 21 November.
Additional payments of around £130m have broadly been agreed with the EFL, although talks are continuing over the precise method of distribution.
It is hoped the final details will be sorted in the coming days.
MPs had demanded a model be agreed or the top-flight risked having a settlement forced on them.
A report by the Culture, Media and Sport (CMS) Select Committee in June said if no funding plan is reached soon, the government should bring forward a move to set up an independent football regulator (IREF) "to impose a deal".
The plan for a regulator, recommended by a fan-led review, has been confirmed by the government. It should be established by 2024 and ensure a fair distribution of money filters down from the Premier League is one of its aims.
The overall amount distributed will be complicated as it will begin immediately and change, both in terms of the size of the percentage of the Premier League's TV deal it relates to and also the TV deal itself, given the current cycle ends at the end of next season.
It is anticipated the agreement will run until 2029, when both the Premier League and EFL's TV deals run out.
There has also been talk they may then be negotiated jointly.
Our coverage of your Premier League club is bigger and better than ever before - follow your team and sign up for notifications in the BBC Sport app to make sure you never miss a moment