The proposed Football Governance Bill, which would see the creation of a football regulator, was debated in the House of Lords on Wednesday.
Introduced by the previous government but never passed into law, the bill would provide a regulator with 'backstop' powers to enforce a financial distribution settlement if the EFL and Premier League cannot reach a deal.
The EFL wants a 25 per cent share of the two competitions' combined TV revenues and a significant reduction in parachute payments, which it sees as distorting competitive fairness in the Championship.
"If you go to the first year of the Premier League in 1992-93, the difference in turnover with the EFL was £11m," said Parry, who was the Premier League's first chief executive between 1992 and 1997.
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LUKE BOOSTED BY WALES ACE LIAM
Swans bid to mark new era in style...
MATT'S DELIGHT OVER RECORD
WYCOMBE boss Wanderers Matt Bloomfield hailed his history-makers after victory at Lincoln City.
TON-UP IAN ENJOYS HIS SPECIAL WIN
AN Evatt described his 100th win as Bolton boss as very special, although he needed Aaron Collins' injurytime goal to bring up the three figures.
DONS LACK A CLINICAL EDGE AS SADDLERS GRAB POINTS
NATHAN Lowe's strike inspired promotion-chasing Walsall to victory over AFC Wimbledon at the Cherry Red Records Stadium.
SUB GRIMES IS IN-SPIRED TO HEAD THE WINNER
CAPTAIN Jamie Grimes headed in a late winner for Chesterfield after a game of very few chances appeared destined to remain goalless.`
COBBLERS TEST IN TROPHY FOR POSH
HOLDERS Peterborough United have been drawn against fellow League One side Northampton Town in the Round of 32 of the newly-named Vertu Trophy.
HORNETS REMINDED OF GRAY'S BRILLIANCE
WAYNE Rooney expressed his delight as Plymouth extended their unbeaten league home run to six after Andre Gray's last-gasp leveller.
MARTI DOUBTING JOB AFTER DRAW
Rangers home run continues
BIG MAC'S ON TARGET TO SEE OFF THE TIGERS
LUTON boss Rob Edwards felt it was a very good day at the office as his team turned in a gritty performance to beat Hull.
Rohl confident Owls
DANNY Rohl said getting results is the only thing missing as his Owls were held at home by Cardiff.
