The league and the EC have agreed that six packages of games will be auctioned, with the proviso that BSkyB can only bid for five, which it is seen as being likely to do so as to maintain its grip and drive subscriptions.
The six-package deal is designed to allow another broadcaster to pick up a share of games, a move that could see live Premier League coverage back on terrestrial television. The deal specifices that the six packages must be balanced in terms of appeal.
Neelie Kroes, EC competition commissioner, said: "I am pleased to bring this long-running case closer to a satisfactory outcome. The commitments offered by the Premier League should ensure that the media rights are sold in a fair and transparent manner and give British football fans greater choice and better value."
However, the deal will not please cable operator NTL, which two weeks ago said it was not interested unless Sky was prevented from bidding for at least 50% of games.
The EC had been engaged in a battle of wills with the Premier League over the packaging of TV rights, since the two sides agreed that one broadcaster should not have a monopoly after the current deal expires in 2007.
Talks between the two sides about the finer details at one point seemed to degenerate into the threat of legal action by the EC.
The current three-season deal brought the Premier League a £1.024bn cheque from Sky, after it outbid all other broadcasters.
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