England's governing Football Association announced on Monday it had agreed a new overseas broadcast rights deal for the FA Cup worth a reported $1 billion (919 million euros, £820 million).

The new agreement will run for six seasons starting in 2018/19. Although the FA refused to specify an exact figure, simply saying the agreement was "hugely significant", the $1 billion figure has been widely reported in the British media.

While concerns have been expressed within English football that the FA Cup has become increasingly less important as a football tournament following the rise of the Premier League, this broadcast deal is evidence of the ongoing global popularity of the world's oldest senior football knockout competition.

"This is a hugely significant deal for the FA as a not-for-profit organisation," said FA chief executive Martin Glenn.

"It means we will be able to invest even more than we currently do in pitches, facilities and participation programmes to make football available for all.

"It is not overstating it to say that it could have a transformational impact on what we are able to achieve across the country. It also underlines the global popularity of the Emirates FA Cup. With its history and tradition, it has the remarkable ability to create fantastic stories and inspire fans, players and clubs to believe anything is possible.

“On top of that, by the time we get to the Wembley showpiece next May, more than £30 million will have been distributed to competing clubs this season, from the amateur game right through to the elite level."

The FA added the financial terms would remain confidential, and that domestic rights will remain with terrestrial broadcaster BBC and satellite station BT Sport.