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The 57-year-old will co-chair the Sports Business Council with sports minister Tracey Crouch.
The newly established group will aim to support growth for the sports sector and improve access to finance.
Scudamore oversaw a record £5.136bn deal for Premier League TV rights in 2015.
He was chief executive of the Premier League between 1999 and 2014 before becoming its executive chairman.
"I am looking forward to helping shape policies that will cement and further enhance the UK's reputation for sporting excellence, as well as attracting the investment that makes this all possible," Scudamore said.
Premier League executive chairman Richard Scudamore has been recruited by the government to help improve Britain's sporting economy.