The six Premier League clubs involved in the botched European Super League will be fined £22 million and deducted 30 points in the event of another such move reports in England say.

English media report that the deal was agreed on Wednesday morning with an announcement likely to follow later today.

The deal which comes on the eve of the Premier League’s AGM in Harrogate means a disciplinary process to punish the Big Six will now be shelved according to reports.

Each club will reportedly not be handed a deduction now and the money they hand over is understood to be earmarked for grassroots, fan and community initiatives rather than for the other 14 clubs.

Further attempts to join another league will result in a £25m fine for the offending club and a 30-point deduction.

The penalty may well be seen by some as a slap on the wrist for the six – both Manchester clubs, Chelsea, Arsenal, Liverpool and Tottenham.

Some of the other 14 clubs had called for immediate deductions. Talks, which at times had become strained, had been ongoing for some time.

One of the major sticking points was over where the fines would go.

The six did not want their punishments to line the pockets of their rivals with a view that they would have jumped at the European Super League should they have been invited.