The refund - which would be required even if the season is able to resume behind closed doors - is anticipated because matches will not be taking place as expected, including being played without fans and at different times to the original schedule.
League bosses told club officials on Monday (11.05.20) that their objections to games in neutral stadiums have been heard as talks continue on 'Project Restart'.
Premier League chief executive Richard Masters said: "We were able to update our clubs today on our situation with broadcasters, which is obviously confidential.
"Whatever happens, there's going to be significant loss of revenue for clubs. That is inevitable.
"We were able to paint a picture today about what would happen in various scenarios, playing out the season and not playing out the season, to allow them to have a picture of that as we stand in the early part of May.
"But in terms of putting an estimate on it, I don't want to do that today."