A percentage of the revenue from the sale of free-to-air broadcast rights will be ploughed back into grassroots sport – bringing in millions of pounds.

An agreement to earmark 30 per cent of net revenue derived from the sale of the rights has been put forward by national governing bodies, including the Football Association (FA), England and Wales Cricket Board (ECB), Rugby Football League (RFL), Rugby Football Union (RFU) and the Lawn Tennis Association (LTA).

The broadcast deal is part of the Voluntary Code of Conduct on the Broadcasting of Major Sporting Events, which states that certain showpieces such as the FA Cup and Wimbledon must be shown in some form on free-to-air television.

Governing bodies complying with the code have already boosted grassroots sport to the tune of £127m (US$164.2m, €146.1m) over the last few years.

Sir David Scott, chair of the committee who monitors the code, said the government was “keen to see more signatories to the code”.

“The Committee also welcomes the recognition of the Code in the Government’s new sports strategy Sporting Future as an important mechanism for securing reinvestment in grassroots sport,” he added.