Although a majority of the 20 clubs who attended a shareholders' meeting on Thursday are supportive of bringing in financial controls, major differences of opinion remain over what form these should take.
The meeting at the Premier League's headquarters ended with no decision taken, and league's executives will now try to draw up some detailed proposals on a range of options ahead of a meeting in February. Any decision is likely to come into force from the start of next season.
Some clubs such as Arsenal and Manchester United want clubs to be obliged to break even every year, while it is understood others argued at the meeting that owners should be allowed to put in their own money to subsidise spending. There was also disagreement over the level of owner investment that should be permitted.
Other clubs, including Fulham, believe there should be no restrictions at all while yet another group including Sunderland want the controls to only be short-term restrictions on player wage increases.
There have now been five meetings of top-flight chairmen where cost controls have been discussed without any concrete decisions being made.
West Ham co-owner David Gold said "There have been no decisions made. The debate carries on. I am hoping that we can come to some conclusions for the best interest of the football clubs and the league as whole, hopefully before the start of next season."
Swansea chairman Huw Jenkins said he was hopeful an agreement could be reached.
He said: "I think we will get a consensus on this. Over the next few months we should get something in place, most likely before the start of next season.
"The main issue is that in the present economic climate, we as a league, portray the right image and make sure that everyone involved in football is looking after the supporters and making sure everything is kept under control and is run in the right manner."