The FA to receive huge $1bn boost after negotiating bumper new TV deal for the FA Cup
The Football Association has secured a $1bn (£820m) boost to their coffers after agreeing a lucrative six-year TV rights deal for the FA Cup.
An announcement will be made next week revealing the sale of international TV rights to sports marketing agencies Pitch International and IMG from the 2018/19 season.
Pitch International have negotiated a $300m deal for EMEA rights while IMG have agreed to pay $700m for the rest of the world, according to The Telegraph.
Read more: How much is winning the FA Cup worth in prize money?
Pitch, who have enjoyed a long-running relationship with the FA as archive manager, are renewing a four-year rights deal first signed in 2012.
The new bumper deal, negotiated in dollars due to the post-Brexit weakening of the pound, represents a significant financial relief for the FA who posted a £12.1m loss last year.
TV rights represent the FA's single biggest source of revenue, generating £124m last year. Wembley Stadium stood at £83m while sponsorship and licensing made the association just £58m.
That figure will make a significant jump in 2018, with the FA also having negotiated a new domestic deal with the BBC and BT Sport worth £200m and £50m a year from Uefa's contract with ITV for England games.
In total, the FA should pocket in excess of £250m a year from its TV rights package.
That's still some way off the £2.7bn treasure trove enjoyed by the Premier League juggernaut, but should enable the FA to boost prize money payments which is currently set at just £3.4m for the winner.