Burns said: "There has been no improvement on that (Friday's offer) and if that's their final position I am obligated to put that to the clubs. But I can pretty much forecast what their response will be.
"What is on the table is a figure of £62million instead of the £178.5million which is owed. In addition that was tied up with a number of conditions which were onerous and unacceptable."
Burns said today he wants at least £100m plus their rights back for the contract's final year.
That meeting of club chairmen in Manchester is certain to have a huge bearing on what happens next.
In a statement this morning Deloitte & Touche said: "We have advised the court that some progress has been made with certain suppliers and constructive dialogue is on-going with others.
"Whilst we have recommended the process be continued for a further short period to establish finally whether the company can be preserved, we are also preparing the business for sale."
