The Premier League , the world ’ s richest competition , will share £1billion over three years with the rest of English football . The size of the hand-outs , which amounts to £50million per club , will go to five specific areas of the game . The deal is said to be unprecedented in global sport and amounts to an increase in excess of 40 per cent over the previous redistribution figure . The numbers were unanimously agreed at Thursday 's summit of Premier League clubs — the first meeting since the £5billion domestic TV rights deal . Sharing the bonanza so quickly will go some way to countering the Premier League ’ s ‘ greed is good ’ image . Premier League CEO Richard Scudamore says the top flight is 'sharing in the success of English football ' Premier League clubs agreed on Thursday to make a £1bn contribution to the rest of English football . Premier League chief executive Richard Scudamore said : ‘ You can ’ t find me another sport that is committed to this level of sharing . You can use other fancy words like redistribution but this is sharing . It ’ s sharing in the success of English football. ’ The targeted investments are in grass-roots facilities , participation , fan engagement , solidarity payments to the lower leagues and supporting disadvantaged groups . They include all clubs committing to adopting the living wage ( £9.15 per hour in London and £7.85 outside London ) for full-time employees by the start of the 2016-17 season . The clubs voted in favour despite being told that title sponsors Barclays will not be renewing their endorsement when their current contract expires at the end of next season . But the loss of that £120m deal — sure to be replaced at a higher price — didn ’ t stop clubs committing £50m each to the PL ’ s good causes . Ironically , around 50 fans were demonstrating outside the meeting in Piccadilly , London about the Premier league re-distributing their wealth . The only caveat is the result of the current Ofcom investigation into how the TV rights are sold and the monies raised from the international rights sales . Scudamore , who will become executive chairman in June , said : ‘ These are unprecedented levels of redistribution in world sport , let alone football , which will deliver long-term progress for English football whether you are a fan , lower league club or involved in the grassroots . The summit meeting is the first since the new record £5bn TV rights deal was secured by the league . BT Sport and Sky Sports ( above ) took their share of Premier League fixtures in the bumper new deal . ‘ I don ’ t think our clubs have ever made such an early stamp in the ground that says we are committed to what we ’ ve always done but actually extending and growing . ‘ I ’ ve never seen them unanimously want to say “ We want to make a statement . It ’ s a big statement to give away £1billion of our UK TV deal ” . ‘ We ’ ve had commercial success and we are going to share that success and we ’ ve done this at very short notice . Rarely do we get things through as quickly as this . ‘ I do hope over time people will appreciate what we do . Those who know most about us respect us the most . What we do in this space is hugely motivational to me — I absolutely believe in it to my core. ’ Scudamore added : ‘ I was hugely encouraged about the fact that I don ’ t think anybody in the room doubted this was the right thing to do . It was all about how it would work. ’ About the living wage commitment , he said : ‘ We absolutely get and the clubs absolutely get that if you are paying players X and X is a big number it does look a little incongruous if you are only paying your employees Y . ‘ My only plea is that we have to be allowed to do this in our own time , We are only halfway through our sales process and we do have the big issue of Ofcom still sitting over us. ’ However , acting so quickly in sharing their jackpot rights will certainly make it a lot more difficult for Ofcom to rule against their TV riches .
Premier League to share massive portion of £5billion TV rights income . Clubs committed £50million each to the PL 's good causes at summit . Premier League CEO Richard Scudamore called move 'unprecedented ' Scudamore said : 'It 's sharing in the success of English football ' Targeted investments include grass-roots facilities , participation , fan engagement , the lower leagues and disadvantaged groups . All clubs to adopting the living wage ( £9.15-per-hour in London and £7.85 outside London ) for full-time employees by the start of three years .