Premier League clubs are worried about receiving instalments of transfer fees worth more than £100million and due from European sides because of the collapse of TV deals on the continent.
Sportsmail has learned that broadcasters in France, Spain and Italy have all failed to make payments to their respective leagues over the last month, leading to fears that clubs in those countries may be unable to pay fees due in June.
The vast majority of fees are paid in instalments over the entire period covered by a player's contract, particularly when it is a significant transfer, although selling clubs in need of instant cash occasionally arrange bridging loans at commercial rates secured against future payments to ensure they receive the money up front.