The £1bn Sky is understood to be considering is only just short of the £1.1bn it paid in 2000 for the live rights to 66 matches between 2001 and 2004.
News of the sum has come as a surprise because the company had been expected to make a low bid, following the collapse of ITV Digital and financial troubles at cable companies NTL and Telewest.
However, the satellite broadcaster is said to want to ensure it retains the rights to the matches because it is crucial to its sports coverage.
The cost of TV rights have plummeted in the last few years, sparking fears that Premiership football clubs will be unable to meet the high salaries demanded by top footballers.
Although the news of Sky's bid will be welcomed by football clubs, they are not out of trouble yet. A recent statement from the EU deemed the collective selling of the Premier League's rights anti-competitive. This could see more live matches made available to other broadcasters.
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