Penalty shoot-outs to decide drawn games is one of the ideas a Football League working party will investigate.
Football League chairmen meet on Thursday
The League's 72 club chairmen set up the working party to look at ways of making the game more attractive.
The idea of shoot-outs to award a bonus point has been roundly condemned by managers and some club chairmen.
League chairman Lord Mawhinney said: "It's important to look from time to time at what we're offering and whether it's as good as it could be."
The proposal for drawn games would see each side awarded a point, but a penalty shoot-out would decide the destination of a bonus point.
If the idea gains enough support, it will be presented as a motion for a rule change at the Football League's annual general meeting in June.
Arsenal boss Arsene Wenger said: "I saw this in my first year managing in Japan - it did not have spectacular results."
He added: "In extra-time they played a sudden death goal and if no-one scored they had penalties.
"The draw is part of the culture of the game and I would not like that to disappear."
The idea was originally put forward in the recent Football League Fans Survey.
Lord Mawhinney added: "Managers may hate shoot-outs but fans love them. The chairmen decided to use this proposal to have a broader look at a range of ideas that might refresh our product.
"Some people were strongly against it, some people were in favour of it, but on both sides people said: 'let's be constructive and have a broad examination of what we have on offer'."
Bournemouth boss Kevin Bond told the Daily Echo newspaper said: "Why can't we just have a draw?"
"I don't agree with it because I think it's too much of a radical change.
"I'm very open-minded and I think certain laws of the game need to move with the times but that would be too much of a drastic measure."