Date:Sunday July 22 2007
The Premier League has today announced that it will hand over more than £90m to the Football League over the next three seasons.
Sky Sports announced that this 'solidarity package' will see the Football League being given £31.8m next season as part of top flight income is redistributed to the lower leagues.
Richard Scudamore, Premier League chief executive, said that the Premier league has recognised the importance of the continued health of the professional game at all levels.
'This package means that the Football League clubs will have the ability to increase investment in critical areas such as youth development and community programmes.
'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.'
This deal will mean that the Football League Youth Development will be get £5.4m and the club's community investment will get £4m. £11.2m will be distributed between the Championship and Leagues One and Two clubs.
Lord McWhinney, the Football League Chairman, said, 'This is a generous gesture by the Premiership and I would like to say thank you on behalf of our clubs. The need for a payment of this kind stems from the significant financial gap that exists between their League and ours and this positive gesture will help to address the situation.'
Date:Sunday July 22 2007
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