Project Big Picture could gain wider support if it proposed that Premier League decisions were subject to a simple majority vote, Forest Green chairman Dale Vince has said.
Details of the project, which is being led by EFL chairman Rick Parry with support from some of the country's leading clubs including Liverpool and Manchester United, first emerged on Sunday.
Among the proposals are an immediate £250million rescue package for EFL clubs affected by the coronavirus pandemic and a 25 per cent share of the Premier League's net media revenues in the future.
But it has been criticised for appearing to concentrate too much power in the hands of the Premier League's so-called big six, who would have a greater ay on a whole range of issues through a change to the voting system.
Vince believes there is plenty of merit in the work done by Parry, but sees why the voting changes could be viewed as a "power grab".
"This has got some questionable elements – it's not perfect but they might just be negotiating points," he told the PA news agency.
"The bit I'm thinking of is the proposal for six big clubs in the Premier League to dominate the voting. If that was done as a simple majority that would be an improvement on where we are today where it takes 14 out of 20 to pass any rule change.
"I think that is the part that people are railing against as far as I can see. It stands out as a bit of a power grab – we'll give with one hand but take something a little bit bigger with the other hand.
"It's the most contentious part of the whole package."
He added there would be a concern, if the voting rights were changed, as to how permanent the 25 per cent share of media revenue for the EFL would be.
"Having that voting power concentrated in a few hands makes that even more the case that nothing is forever, and you've got to count on goodwill," he said.
"But it's goodwill that is going to bring us to where we're proposing to be isn't it?"
Vince said he was surprised by the Government's response to the news on Sunday.
"They have been calling on the Premier League to bail out the EFL – which I think is the Government's job actually – and now somebody has proposed to do it the Government's first reaction is to claim that it's a deal done behind closed doors and creates a closed shop. I think is an incredible thing to say, divorced from reality," he said.