LONDON (AFP) - The Premier League on Sunday agreed to pump more than 90 million pounds (133.9 million euros) into the Football League in a bid to reduce the financial chasm that separates the top flight clubs and the lower league sides.

The first Premier League initiative begins next season with a three-year 'solidarity package' under which 31.8 million pounds (47.3 million euros) will be invested into youth development, community activities and the Football League's member clubs.

Football league chairman Lord Mawhinney is confident the investment will help Championship clubs compete with their more distinguished counterparts, with promoted clubs often struggling with funding when they reach the Premiership.

He told the BBC: "We are very grateful. It was a generous gesture by the Premier League following a considerable number of weeks' discussion between (Premier League chief executive) Richard Scudamore and myself.

"All Football League clubs are going to benefit from this money, and we are very grateful.

"If you look at the position of the Football League today compared to four or five years ago, our sponsorship money is considerably up, our media contracts are significantly up.

"We now have a number of commercial partners that we did not have before. That's on the money side.

"On the sports side, for the last three years, we have had more than 16 million people through the turnstiles. Last season was the highest turnout for 47 years, and over 50 years in the Championship.

"It's easy to forget that the Football League has more customers through the turnstiles than any football league in Europe and, in financial terms, we are the fourth largest in Europe.

"More people watch our Championship - just the Championship - than watch Serie A in Italy.

"It is all relative. The Premier League is so big that not only does it dwarf all of the other leagues in Europe, but it makes us appear to be a very secondary league."