Richard Scudamore will receive a £5 million leaving payment spread over three years as he exits his post as executive chairman of the Premier League.
Susanna Dinnage will replace Scudamore, who was in the post for 19 years.
Club bosses have ignored protests about the payment.
A statement from the Premier League read: “The decision was made by the audit and remuneration committee and the non-executive directors, supported and endorsed by the clubs. It was agreed that it is crucial for the League’s ongoing success that Richard’s unique knowledge and experience remain available in an advisory capacity. The payments are in recognition of the outstanding work Richard has carried out”.