Following an agreement for an increase in pay-out to clubs in Germany, the chairman hailed the deal as a major financial boost that will see them improve in European competitionBayern Munich CEO Karl-Heinz Rummenigge has hailed the agreement that the DFL (German Football League) reached on Tuesday to increase television contract revenue.
Beginning in 2013-14, and through to 2016-17, Sky will pay €628 million per year to broadcast 1. Bundesliga and 2. Bundesliga games, an increase of 52 per cent relative to the current figure of €412m.
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"The increase of the TV contract amount is a milestone in the history of the Bundesliga," the Bayern CEO said in a press release. "This is the result of the very positive development of the league in recent years.
"This increase is also a win for the clubs, who can continue to become more competitive in competitions like the Champions League and Europa League."
Speaking to reporters at a press conference in Frankfurt, DFL chairman Christian Seifert revealed that Sky's offer exceeded all others by 20% in three of the four categories in which the company was awarded contracts.
"We didn't expect results like this, it clearly exceeded our expectations," Seifert said.
In response to rumours of the new contract agreement, shares of Sky Deutschland opened trading nearly 20% higher on Tuesday than on their Monday close.
Goal.com will be running a dedicated LIVE! on Tuesday and Wednesday from 16.00-00.00BST to keep you up to date with all the latest about the Champions League semi-finals, while also offering you the chance to discuss with our team of experts how a combined Bayern/Madrid XI could look like, and what Chelsea must do to shut out Lionel Messi and stop Barcelona.