"However, I do not know if the teams would be madly interested in another three, four or five games at the end of the season. I think it's not a bad idea.
"You have to make sure that you're not tinkering too much. Before you know it, will finishing seventh or eighth be considered really good success? It shouldn't do - it should be a good season but enough to maybe make you the fourth best team in England.
"I am for it in some ways, and against it in others."
BBC sports news correspondent Gordon Farquhar said the Premier League has been presented with "a number of ideas for altering the competition's format".
The move is widely thought to be seen as a way of increasing competition in the Premier League because Manchester United, Chelsea, Liverpool and Arsenal have filled the top four positions in five out of the past six seasons.
The proposal was raised at a meeting of all 20 clubs on 4 February and will be considered again when they next meet in April.
The top four in the Premier League is the same so far this season, although Manchester City, Tottenham and Aston Villa are putting concerted pressure on Liverpool, who are fourth.
Two years ago the Premier League was widely condemned for a proposal to play a 39th game of the domestic season in Asia.
The Football Association, the sport's world governing body Fifa and European body Uefa all rejected the idea and the Football Supporters' Federation (FSF) condemned the proposal as being motivated by money, dubbing it Game 39.
A similar system to the idea of play-offs was introduced by the Dutch Eredivise in 2005-06, with teams finishing from second to ninth competing for a place in both the Champions League and what was then the Uefa Cup.
That idea was scrapped in 2008 for the Champions League, with teams finishing fifth to eighth now vying for a place in the rebranded Europa League.
Versions of the play-off system are also in use in rugby union's Guinness Premiership and rugby league's Super League.
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