The Premier League has appointed Richard Masters as its new chief executive with immediate effect.

Masters, who first took the job on an interim basis last year, was approved by Premier League clubs at a special meeting on Thursday.

"I feel privileged to be given the opportunity to lead the Premier League in what will be one of the most exciting stages of its development," said Masters in a statement.

"I have thoroughly enjoyed working with the clubs and our partners and other stakeholders over the past year. This is one of the most incredible jobs in the world of sport and I now look forward to leading the League in the many opportunities and challenges that lie ahead."

Chelsea chairman Bruce Buck, who heads the Premier League nominations committee, added: "Richard took on the role of interim chief executive a year ago. Since then, the clubs have seen Richard rise to the occasion, dealing with our various stakeholders and partners with aplomb and skill.

"As interim chief executive, he has faced challenges head-on and has proved himself. The clubs believe that this is the right appointment now in the long-term interests of the Premier League."

Masters is the third person to be named as the new chief executive since Richard Scudamore stood down after almost 20 years in the role.

It was initially announced that Discovery executive Susanna Dinnage would take over, but she changed her mind about the role last December.

David Pemsel was named the new choice in October and was due to start in the job in February, only to withdraw in the wake of newspaper claims about his private life.

Masters joined the Premier League as director of sales and marketing in 2006, having previously worked at the English Football League and England and Wales Cricket Board, and in 2015 was promoted to managing director.