Clubs that suffer relegation from the Premier League will receive around £60m over a four-year period.
At the moment, teams that fall into the Championship are given £48m over the same time period.
However, while the exact figure is yet to be confirmed by the Premier League, parachute payments will increase by around £12m starting at the end of the current season.
The new payments are part of a three-year agreement, which will be reviewed when it expires in 2016.
