Champions League and Europa League revenue will be distributed more evenly next season, the European Clubs Association (ECA) and Uefa said on 31 March.
The announcement came amid concern the gulf between the richest clubs and the rest was widening, with the result that domestic leagues and the Champions League are becoming increasingly predictable.
In a joint statement, ECA and Uefa said they had developed a distribution mechanism for the Champions League and Europa League to share revenue growth more evenly among European clubs. The statement said a funding pot of €2.24bn (£1.63bn, $2.41bn) will be divided per season.
It was also announced that another two ECA members would be joining European soccer's ruling body Uefa's executive committee.
Gianni Infantino, general secretary of UEFA, said: "The key words in all of this are good governance and modern governance, dynamic governance with the involvement of the clubs directly in the executive committee of UEFA."
ECA chairman Karl-Heinz Rummenigge said he was pleased with the outcome.
"I believe we're very happy with the outcome of these two agreements because it's a great favour (favourable) for club football and once more a signal that club football is on a very good way and I believe we reached good results regarding finance and modern and good governance in both, especially in UEFA because from now on, once we have two seats in the exco and the final decision as you know are done in this exco," he said.
He said the ECA was meant for all clubs, not just the big ones.
"We have something like 220 clubs as members so we have big clubs like Real Madrid, mid-sized clubs like Porto and small clubs coming from Malta, Cyprus and so on," Rummenigge said.
The ECA said more money would also be distributed to clubs who release players for Euro 2020 and that, for the first time, the amount would be calculated as a percentage rather than a fixed figure.