KIEV (Reuters) - More than three times as many clubs will have a share of the cash disbursement agreed for the 2012 European Championship compared with the 2008 edition, governing body UEFA said on Saturday.

Around 580 European clubs will share a total of 100 million euros ($127 million), with 60 million being split between those that released players for the finals in Poland and Ukraine and 40 million going to clubs whose players featured in the qualification phase, UEFA said.

The decision was taken following a proposal by the European Club Association (ECA) and was approved by UEFA's executive committee on Saturday.

The total pot is almost twice as much as the 55 million euros distributed after Euro 2008 in Austria and Switzerland.

"Thanks to an excellent cooperation between UEFA and the ECA, today's decision will benefit the whole football family and help shape a good and solid future for football in Europe," UEFA president Michel Platini said.

ECA chairman Karl-Heinz Rummenigge added: "The increase from 55 million to 100 million clearly recognizes the significant contribution clubs make to the success of the tournament.

"It will not only benefit around 580 clubs, but football as a whole."