Premier League clubs were told at a meeting on Thursday that the EFL was seeking annual payments of £207 million over five years, the report added.
Media reports said earlier this year that the Premier League had proposed paying £1.5 billion over 10 years, in addition to existing funding provided by the top flight.
An EFL spokesperson declined to comment on the matter, citing ongoing discussions. Reuters has contacted the Premier League for comment.
Media reports said that the Premier League paid around £137 million to the three lower leagues under the EFL umbrella last season, including the second-tier Championship, League One and League Two.