West Ham United chairman David Gold believes new a parachute payments proposal will benefit clubs throughout the Football League.
Those clubs relegated to the Championship this season will receive £16million a year for two years, while under the new proposals relegated clubs would get £16million for each of the first two years and then £8million for each of the second two years.
Gold told Sky Sports: "It also helps the Football League and indeed all the way down to the lower divisions.
"It's percentages of the available TV money which is a standard process and that has traditionally been 50% for the first two years and now we've got an additional 25% for years three and four, which I think is excellent and I'm delighted.
"I think a total for the four years would probably amount to somewhere in the region of £48million."
The payments are part of the solidarity package of money paid to the Football League over the next three years. The 2007-10 package saw more than £90million handed over including £5.4million for youth development."
