The BBC and Sky will share the TV rights to Football League and Carling Cup matches.
The new £264m will run for three seasons starting in 2009-10 and will result in live coverage of the Carling Cup Final airing on BBC terrestrial television "for the first time in recent memory".
Football League chairman Lord Mawhinney said: "We are delighted to be continuing our strong partnership with Sky Sports and are excited by the prospect of working closely with the BBC. I am grateful to them both for their recognition of the value that The Football League brings to the football marketplace.
"Over the last few years The League's standing has been enhanced, both commercially and competitively, as we have delivered real football for real fans. This deal recognises that fact.
"£88m a year coupled with unparalleled coverage on Sky and the BBC will provide a fantastic boost to Football League clubs and their supporters."
Will be great to see the League Cup final back on terrestrial, I feels its seriously devalued the competitions worth by only having the final on Sky Sports, as it pulls it away from the majority.
It might also help the exposure of the championship. Digital Spy Report