Lord Mawhinney is grateful for the premier League's contribution

The 'solidarity package' will be paid over the next three years, and is the biggest sum handed to League clubs since the collapse of ITV Digital.

With Premier League clubs set to net �2.7bn from new television deals, the contribution has been criticised.

But Lord Mawhinney said: "This is a generous offer and on behalf of our clubs, I offer my thanks."

Next season �31.8m will be split among clubs, with the condition that part is spent on youth development and community programmes.

Lord Mawhinney added: "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."

Mawhinney's thanks were echoed by Preston chairman Derek Shaw, who was forced to sell prize asset David Nugent to Portsmouth.

He told his club's website: "It's magnificent news. It's fantastic that the Football League board have negotiated this with the Premier League.

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"It's great for clubs like Preston who, as we all know, find it very difficult competing.

"It will help us on the youth development side, we're keen to push more of our homegrown players.

"We'll have to try and make sure it doesn't end up on players' wages, the money is there to help the clubs survive long-term and invest properly."

Clubs in the second tier of English football will receive an extra �11.2m next season because Sunderland and Birmingham, who made an instant return to the Premier League, will no longer receive parachute payments.

That leaves West Brom, Watford, Sheffield United and Charlton as the four parachute clubs.

Last season's fifth-placed club, Wolves, will receive �1,383,602, with the sixth-placed club, Southampton, receiving around �75,000 less and so it will continue until the club in 13th place, Cardiff, who will receive �775,909.

Clubs finishing 13th and below will all receive that amount.

League One clubs will receive �103,480 each, with �68,987 going to League Two clubs.

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."