The Premier League have announced a solidarity package with The Football League worth potentially in excess of £90m over the next three seasons.

This new mechanism ensures that a proportion of Premier League income is redistributed down the professional football pyramid.

The extra funding structure will deliver in total £31.8m next season and includes:

£5.4m per season for Football League Youth Development;

£4m per season for Football League clubs' community investment;

£11.2m per season solidarity payment to split amongst clubs in The Championship, League 1 and League 2 in line with The Football League's regulations on financial distributions;

An extra £11.2m or £22.4m in seasons where there is either one or three 'spare' parachute payments - next season this amounts to £11.2m

Premier League Chief Executive, Richard Scudamore, said: "The Premier League and our member clubs recognise the importance of the continued health of the professional game at all levels.

"This solidarity payment means that Football League clubs will have the ability to increase investment in critical areas such as Youth Development and community programmes, as well as receiving an extra payment virtually equivalent to the one a Championship club receives from their own basic award.

"We feel this is a great deal for The Football League and one that we are pleased to have been able to do at this time."

Football League Chairman, Lord Mawhinney, added: "This is a generous gesture by the Premier League and, on behalf of our clubs, I offer my thanks.

"In part, the need for a payment of this kind stems from the significant financial gap that exists between their league and ours - largely due to the financial success of the Premier League. This positive initiative will help to address this issue."

Sports Minister, Gerry Sutcliffe MP, said: ""I welcome this redistribution and in particular the new funding for community and youth player development.

"The Football League is one of the most watched and most competitive of any in the world. It is the foundation on which the success of the Premier League depends.

"So it is right that some of the financial rewards from the Premier League's success are re invested back through the Football League structure."