Arsenal were set to be one of nine clubs given "special voting rights" on certain issues under the proposals for Project Big Picture
Arsenal manager Mikel Arteta says clubs must help each other "make football more sustainable" after plans for Project Big Picture were rejected.
Premier League clubs "unanimously agreed" on Wednesday that the proposals will not be "endorsed or pursued".
Burnley boss Sean Dyche also stressed power in the game should be shared.
"We have to find a way that works for everybody," said Arteta, adding that clubs have an obligation to protect the lower leagues and grassroots football.
"That can make this game sustainable and we can still evolve regarding the context we are in at the moment, which is important as well.
"It's different to what it was 20 years ago. We have to move. We have to share a vision to achieve that at the end of the day for the benefit of everyone."
The plans, proposed by Liverpool and Manchester United, were rejected at a meeting of the 20 clubs in England's top flight, who instead agreed to "work together" on a new "strategic plan" for the "financing of English football".
They also decided on a £50m rescue package for League One and League Two clubs at the meeting.
"It's very special the way the Premier League has conducted itself over the years, from playing in another league in Europe," added Spaniard Arteta.
"I think that is a massive strength. If we can maintain the unity and sustain our way of doing things that is very valuable and the image we protect to the outside world is really strong. I hope that we can maintain that."
The 'Project Big Picture' proposals
- The Premier League cut from 20 to 18 clubs, with the Championship, League One and League Two each retaining 24 teams.
- The bottom two teams in the Premier League relegated automatically with the 16th-placed team joining the Championship play-offs.
- The League Cup and Community Shield abolished.
- Parachute payments scrapped.
- A £250m rescue fund made immediately available to the English Football League and 25% of all future TV deals.
- £100m paid to the Football Association to make up for lost revenue.
- Nine clubs given "special voting rights" on certain issues, based on their long time in the Premier League.
Burnley manager Dyche, who has either played or managed in each of England's top four divisions, says clubs need to find a balance which "all parties can buy into".
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