Richard Scudamore will step down as English Premier League executive chair by the end of this year, after 20 years in the post.

The 58-year-old was appointed to the position in November 1999 and has played a leading role in establishing the Premier League as the richest football league in the world.

Commenting on the announcement, Bruce Buck, chairman of Chelsea FC and the Premier League Audit and Remuneration Committee, said: "I speak for all the clubs when I say we are very sorry that Richard will be leaving, but we could not have asked for anything more from him.

"While probably best known for the outstanding growth he has delivered, most importantly he commands the respect of everyone in football for the dignified and positive way he has managed the complexities of keeping the league together and moving us forward.

"We have been working on how we will replace Richard and we expect to make an appropriate appointment in good time so there can be a seamless transition."

Speaking of his decision to hand over the reins, Scudamore said: "It’s an absolute privilege to have been allowed to enjoy this role for so long, it is too much fun to be called a job.

"Football is an intoxicating environment and therefore difficult to give up being so involved, but my passion for what football means to so many and the positive impact it can make will never diminish.

"We could not have achieved so much without the enormous commitment of broadcast and commercial partners across the world. That number will run into hundreds, they have all contributed to our story and I would like to thank them enormously."

The decision comes on the same day that tech giant and online retailer Amazon secured a UK TV rights package for the Premier League.

In doing so, it became the first non-traditional broadcaster to acquire the rights to live stream Premier League matches. The company has signed a deal to show 20 games per season in a highlights package, starting from the 2019-20 season.