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Arsenal boss Mikel Arteta has insisted that 'Project Big Picture' wouldn't have damaged the top clubs' relationship with the rest of Premier League.
The initiative moved to reduce the number of teams in the Premier League from 20 to 18, while giving the nine oldest clubs in the top-flight "special voting" rights on any important issues.
The League Cup and Community Sheild would also have been scrapped had 'Project Big Picture' been approved,while a £250 million ($323m)rescue package was to be made available to lower league clubsalong with 25 per cent of all future broadcastingdeals.
However, Premier League clubs voted unanimously against the planson Wednesday, before agreeing tocome up with a new strategy to ensure that English football is financed effectively through to the end of the coronavirus crisis.
The 20 clubs also announced the delivery of a £50 million ($65m) fund for Football League clubs, with Arteta fully behind the final decision.
"I think it was a very clear statement from the Premier League about what is going to happen," the Gunners head coach told a press conference on Thursday.
"We all have to review the actual context and how we can help each other to make football more sustainable, but I think it has to be agreed on by everybody and yesterday's statement was very clear regarding that."
Askedwhether 'Project Big Picture' could have had a detrimental impact on the elite club's relations with the rest of the top-flight, Arteta responded:"I don't think so. I think it's very special the way that the Premier League has conducted itself over the years.
"I think that's a massive strength so as much as we can, we can maintain that unity and sustain our way of doing things. I think that's very valuable and the image that we project to the outside world is really, really strong. I hope that we can maintain that."
Arteta added on the continuation of the time-honoured one club, one vote principle in the Premier League and the need for some kind of reform:"I don't know how important it is. If you ask all the clubs individually, they probably have different opinions.
"We have to find a way that works for everybody, that can make this game sustainable and allows us to still evolve in the context we're in at the moment, which is important as well.
"It's completely different to what it was 20 years ago, so we have to move, we have to share a vision in order to achieve that because at the end of the day, it's for the benefit of every club.