The Arsenal players in a huddle before the Premier League match between Chelsea and Arsenal at Stamford Bridge on May 12, 2021 in London, England.
David Price | Arsenal FC | Getty Images
The Premier League has secured approval in principle for a three-year renewal of its TV rights deal with U.K. broadcast partners, including Sky Sports.
The deal, which would extend the current rights arrangements for another three years, is subject to parliamentary approval and any opposition to the proposed plans needs to be made by May 28.
Premier League clubs have also agreed £100 million ($140.6 million) of additional funding for National League, women’s football, League One and League Two clubs and grassroots game.
Business Secretary Kwasi Kwarteng is “minded to” approve the new deal.
In a statement, the Premier League said: “The U.K. renewals for the next broadcast cycle – from seasons 2022/2023 to 2024/2025 – will be concluded at the same overall value as the current arrangements between the Premier League and its broadcast partners.
“As part of the Premier League’s developing strategic plan, the renewals will provide financial certainty to clubs throughout professional football as a result of maintaining current levels of support and enables the League to commit to increased funding. This will give security and continuity throughout the pyramid until at least 2025.”