BSkyB have been awarded five out of the six packages - the maximum allowed by the European Commission - with Setanta taking the other, halving the amount of matches they will screen when the three-year deal starts in the 2010-11 season.

The figure announced is approximately a 5% increase on their last sale of rights despite the economic downturn, lending weight to the argument that football is becoming recession-proof.

"We are clearly pleased at the outcome and relieved," said Premier League chief executive Richard Scudamore.

"These are not necessarily the best economic times we could be doing this.

"I don't know that anyone is recession-proof at all. Television audiences are holding up through the recession where people appear to be staying in and watching television.

"It's good news for some and not so good for others. Our TV audiences are good, and that is a very different question to whether football itself is recession-proof.

"We have to be realistic, there will be pressure on people's individual pockets - whether that is for TV subscriptions, travel, tickets."

Scudamore, despite the record deal, added: "With unemployment rising, we are not immune. No industry is immune but I think the clubs are well placed to manage that and the broadcasters are well placed to manage that."

The terms of the deal mean there is no possibility of the controversial "39th game", where clubs would play one match of their season abroad.

"By definition, meaningful matches for points overseas cannot take place within the life of this broadcasting lifecycle," Scudamore said.

"We did potentially talk about 2011-12, that cannot now happen until 2013-14 at the earliest. The bids have been accepted on the basis there will be no such activity taking place."

Setanta held two packages during the last deal but they have lost their Monday night slot to BSkyB, who were thought to have paid £1.62billion in total for their five packages.

Scudamore insisted there are no concerns over Setanta halving their live output in a market where BSkyB dominate football broadcasting.

"They are a long-term player and are not just an 18-month part of the Premier League," he said.

"We are absolutely sure they will adjust their business accordingly. It is still a very attractive package."

In a week where ITV have been criticised for missing Everton's winning goal against Liverpool in an FA Cup clash, Scudamore emphasised the importance in the standards of broadcasting, as well as the figures.

"It's a big factor up to making the bidders compliant," he said.

"Our colleagues are the best in the world at broadcasting football matches. There is no way in the world we would want a degradation of quality.

"Nothing in Setanta's production causes us concerns which is why we are more than happy to stay with them."

Scudamore also spoke of his own future at the Premier League, adding: "While I enjoy the confidence of the 20 clubs I have no intention of going anywhere.

"If there is a better job anywhere in the world, and I was lucky enough to be offered it, I may consider it. I don't know that there is one."

Andy Burnham, the Secretary of State for Culture, Media and Sport, said today's announcement was good news for football at all levels with the agreement set to continue the Premier League's commitment to investing 5% of TV revenues into grassroots schemes.

"This is a good deal for the Premier League and English football," said Burnham.

"It will bring stability to football in the current economic climate, and that is good news for everybody who cares about the game.

"Football at the grass roots can also look forward to a period of sustained investment thanks to the Premier League's 5% commitment.

"We all want to see a strong and competitive English game going forward, and I will be working closely with the Premier League over the coming weeks to help secure that."