By Sky Sports and BT Sport have won the UK television rights for the Premier League from 2016 to 2019.
The huge new deal covers the rights to show 168 games per season, and is worth a record-breaking total of £5.136 billion.
The new contract will see Sky paying £4.176bn, with BT paying £960m.
This equals £320m per season for BT, compared to £246m at present. Sky's deal of £1.392bn per year is 83% up from what they currently pay.
The previous deal had 14 fewer games, with Sky paying £2.3bn for 116 matches and BT paying £738m for 38 games per season.
"This outcome provides a degree of certainty so clubs can continue to invest and run themselves in a sustainable manner; it also allows us to start planning how the Premier League can continue to support the rest of the football pyramid from the grassroots upwards," said Premier League chief executive Richard Scudamore.
What to Read Next
"This structure also allows us to strike a balance between match-attending fans and those who choose to watch on television. Keeping grounds full is a priority for the Premier League and our clubs, and I am sure the flexible ticketing policies that have helped keep attendances so high will continue to develop.
"Although we have had a successful outcome for this process, following on from the highlights' award, there is still the ongoing Ofcom investigation to be concluded. We remain confident that the Premier League's live UK broadcasting rights are sold in a way that is compatible with both UK and EU competition law as well as being of great benefit to the whole of English football."
John Petter, BT Consumer CEO, said: "I am pleased we will be showing Premier League football for a further three years and that we have secured the prime Saturday evening slot. These new rights will enhance our existing schedule of football, rugby and other international sport, including all the live footballing action from the Champions and Europa Leagues starting this summer."
