Francisco Roca, the chief executive of La Liga, believes Spanish clubs will agree to sell their television rights collectively within the next three years as they attempt to close the financial gap on the Premier League.

At present, only Spanish and Portuguese clubs sell their rights on an individual basis, creating the disparity that last season made Real Madrid over €140m (£119m) from television income and Granada around €12m. In England, the champions Manchester City earned £60m through TV, while relegated Blackburn Rovers and Wolverhampton Wanderers made £40m.

Deportivo La Coruña are the latest Spanish name in financial turmoil, but Roca insists the will exists in Spain to redress the current imbalance.

Speaking at the Soccerex European Forum in Manchester on Thursday, he said: "We need to get much better with the control of team's finances. We need to conquer the issue of individual television rights. It is not advantageous for the Spanish league to sell its rights individually and something we aim to solve over the next two or three years is to sell them collectively.

"We have two 'Super-Liga' teams dominating and with them making over 50% of the revenue we have a big problem to solve. We started to work on that three or four years ago. We have to solve the distribution system; 35 teams have signed a contract to redistribute the money. Barcelona and Real Madrid have agreed to lower their take to 34% from 42%. It is a step in the right direction. Once we get an overall agreement the rest will be easy. We will get the rights in-house within three years maximum."

Roca was speaking at a seminar with the former Arsenal and FA vice-chairman David Dein, who claimed the Premier League remains stronger than La Liga despite its poor showing in the Champions League this season. "There have been seven Premier League teams in the last eight Champions League finals and three different winners," said Dein. "It is three in eight from Spain with one winner, Barcelona.

"Real Madrid and Barcelona are running away with all the television money in Spain and that is not healthy. The bottom clubs have no chance in Spain and I think Spain has to address how it divides its television money."

Dein's argument on the relative health of the Premier League was based purely on economic indicators – with its annual revenue double that of La Liga at €2.5bn, attendances averaging 92.5% capacity compared to 80% in Spain, and the fairer distribution of television rights.

But Roca countered: "The Premier League is incredible in several senses: its economic impact all around the world – everybody else is looking on enviously and playing catch-up – and its international reach. It is double our reach at the moment but we have, in the last 15 to 20 years, created a lot of football talent.

"We have invested in creating training grounds throughout the divisions, we have the best coaches in the world, especially at youth level, and as a result we have been able to create an amazing pool of talent. That is why our national team has won two European Championships and the World Championship and our teams are doing so well. We have invested and are seeing the results."

La Liga's chief executive also insisted television revenue is not the major reason for financial crises in Spanish football. "We have a problem helping teams who are relegated," he explained. "We don't have parachute payments like you do in the Premier League. If you get relegated in England, it is difficult. In Spain, it is catastrophic. You don't even get 10% of the revenue you used to have. We have doubled that amount, but we have to do more. Relegation is the main problem in terms of instability in Spanish football."