Date: 4th August 2010 at 7:05pm
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Football League clubs, including Wednesday, will enjoy a cash boost thanks to a new three-year funding deal with the Premier League.

A deal worth £372m, or £124m per season, has been struck to aid Football League clubs financially, with some of the income from Premier League clubs being distributed amongst teams throughout the Championship, League One and League Two.

The move follows a decision by Football League clubs to introduce rule changes relating to financial regulation, transparency of ownership and ground criteria.

The deal will see Championship clubs bag £2.2m, League One clubs get £335,000 and League Two clubs get £225,000.

The main difference will come in parachute payments to clubs relegated from the Premier League, with a payment of £48m being spread over four years instead of £32m over two.

Premier League chief Richard Scudamore said: ‘The financial strength of the Premier League has always benefitted the entire English game, but we are taking the unprecedented step of formalising arrangements so that the solidarity payments and the alignment of rules – in some fairly critical areas – are linked.

‘The Premier League clubs felt strongly that a stronger Championship would be greatly beneficial to both competitions.

‘It is a fact of life that we welcome three of their number each season and helping make sure those clubs coming up are prepared – both on and off the pitch – for life in the Premier League was something we felt these measures would achieve.’