A decision on whether to scrap the Premier League’s controversial profit and sustainability rules (PSR) and adopt an “alternative system” is “coming up”, says chief executive Richard Masters.

The current regulations, introduced in 2015-16 to prevent clubs from overspending, allow losses of £105m over a three-year reporting cycle.

However, they have been criticised by several top-flight teams for limiting their ability to invest.

BBC Sport has been told a decision on any changes is likely to be made at a meeting in November.

In February clubs chose to continue with PSR for the current season.

However a squad cost ratio (SCR) system of financial control was adopted by the Premier League on a shadowing, non-binding basis.

SCR is similar to Uefa’s existing financial rules and allows clubs to spend up to a percentage of their total revenues on squad-related costs.

Nine of the league’s 20 clubs already have to comply with Uefa’s SCR as a result of qualifying for Europe. Both Chelsea and Aston Villa were fined by Uefa in July for breaching the rules.

Asked about SCR at the Leaders sports conference in London, Masters said: “We are talking to our clubs about an alternative system. That’s not to say we don’t think the PSR system works.”

He added: “It’s about closer alignment with European regulation, which is squad cost ratio, which is a revenue test. In Uefa, it’s now set at 70%. Our system will be 85% because we always want our clubs to have the ability to invest.

“The Premier League has been built on the back of investment in which international capital flows [are] coming in. We don’t want that to be to be stifled off.”