Grassroots sport in the UK has received a cash injection of £125m, as a result of the voluntary code of conduct on the broadcasting of major sporting events.

The Code of Conduct for Rights Owners, an initiative first initiated by the Sports and Recreation Alliance, stipulates that each signatory commits to complying with one or both of two key principles.

These are ensuring television coverage of their major events is available on free-to-air channels, and reinvesting 30 per cent of the net revenue from UK broadcasting rights into the long-term development of their sport.

The seven organisations to have met the funding pledge so far are The Football Association, England and Wales Cricket Board, Rugby Football League, the Rugby Football Union, the R&A (golf), the Lawn Tennis Association and the European Tour (golf).

Signatories who have only adhered to the accessibility principle of the code are the English Premier League (football) and UK Athletics.

Sir David Scott, chair of the code’s monitoring committee, said: “£125m represents a significant contribution to the development of the respective sports.

“It reinforces the importance of the code as a collective commitment by governing bodies and event organisers.”

The investment has included youth programmes, community sports facilities, education and training, as well as research and development and engagement programmes.

The code is open to all governing bodies and organisations which hold UK broadcast rights.