Sky and British Telecom have agreed to pay £4.4bn to broadcast 160 Premier League games a season in the UK from 2019 to 2022 falling short from £5.1bn which they paid in 2015.
After conclusion of a five-day-auction Sky will pay £3.6bn to show 138 games per season, two more than the current deal; whereas BT will broadcast 32 games, down from 42 paying £885m.
The deal sees Sky paying less than the previous agreement but BT on the contrary will be paying more.
Premier League executive chairman Richard Scudamore said: “We are extremely pleased that BT and Sky continue to view the Premier League and our clubs as such an important part of their offering.”
The price per game according to the new deal is £9.3m which has gone down from £10.2m per game in the last contract.
As a part of this newly structured deal, Sky will have the rights to show Friday and Monday night football with Super Sunday fixtures.
Also, Sky will have every first pick weekend fixture and Saturday evening matches for the first time.
Barney Francis, managing director of Sky Sports, said: “Sky Sports customers will continue to enjoy unrivalled Premier League coverage through to 2022 with 128 live matches a season from next year – more than ever before – including the key head to heads in the best slots.”
Business experts have criticised Sky for paying too much as some believe they could have got away paying less.
Of the seven packages issued by the Premier League, two to show 20 midweek games are yet to be bid for with multiple broadcasters interested to sign them.
BT on the other hand have a leverage for midweek football as they are the official broadcasters in the UK for UEFA Champions League and Europa League games.
They also share broadcasting rights for the FA Cup with the BBC.
Share prices of Sky shot up by 3% and BT’s rose by 1.8% on Wednesday morning after the deal was agreed on Tuesday.
Marc Allera, chief executive of BT’s consumer division, said: “The Premier League is undoubtedly the most competitive and exciting domestic league in the world, so we’re delighted that our customers will be able to continue enjoying Saturday games on BT Sport.”
Silicon Valley’s tech giants Amazon and Facebook were among the bidders who lost out to Sky and BT.
Although Premier League has not confirmed which companies remain in the bidding process for the rest of the packages, the tech companies are expected to get a stronger grip.