The long-term future of European football is in doubt as the Premier League and Premier League Two have both signed new long-contract extensions with significant financial bonuses.

The two clubs will receive an extra £500 million to invest in the future. 

Both clubs have already announced their plans to renew their contracts with clubs in England, France, Germany, Italy and Spain. 

The Premier League is set to extend the contracts of all its English players and will receive the most money from the deal, which will see them receive an additional £50 million a season. 

Premier League One and Premier Premier League One West, which are currently the only clubs in the top tier, will receive £5 million in extra revenue from the new deal, while both sides will also receive £1 million in additional match day income. 

All four clubs will be allowed to use up to £100 million of the money from these deals, although that will not be guaranteed and will depend on whether the clubs can come to an agreement with their fans, according to Sky Sports. 

“We’re very pleased with the progress made by all of the Premier Leagues clubs,” said Sky Sports chief football writer Ben Jenkins.

“We’re pleased that we’ve reached an agreement to extend their existing contracts with the Premier, Premier League, Premier and West.”

This is a very significant step forward for all of our clubs and for the fans and the game as a whole.

We’re thrilled to be working with them to bring a new era of success to all of us.” 

Premiers League Two, which finished the campaign on a three-match losing streak, will also get a boost.

The Premier League club has already signed a four-year deal with BT Sport and will see an extra $100 million from the arrangement. 

West Bromwich Albion also signed a deal with Sky Sports, which includes a further $500 million in revenue. 

However, the new deals are expected to be signed before the end of the year and could lead to more upheaval in the Premier league in the near future.

The Premier and Premier Leaguers have already been criticised for being too focused on the bottom line and not giving fans any chance to see their clubs’ new deals, which were announced before the start of the season.

The contracts for the new Premier League clubs will not include any extra money for overseas TV rights or for clubs who are on the losing end of relegation battles.