The Football Association have agreed to sign over their television rights for England's international qualifiers for UEFA to sell.
The European governing body have now agreed with all 53 member associations of UEFA to collectively sell the TV rights for qualifying matches for Euro 2016 and the 2018 World Cup.
FA general secretary Alex Horne said the deal with UEFA guaranteed television income that was more than they had expected.
Horne, speaking at the UEFA Congress in Paris, said: "We thought it through long and hard and we have got a good deal for ourselves out of it. It is higher than the current valuation of our rights.
"We have gone into this with our eyes wide open. It is a creative idea and we believe it will work.''
The deal was only struck over the weekend and according to reports will guarantee the FA around £100 million over four years.
Details surrounding the sale of FA Cup rights have yet to be finalised but it is expected they will be sold in parallel with the England rights to try to ensure they do not lose their value.
The FA's last four-year England and FA Cup TV package signed in 2008 was worth £575 million but the collapse of Setanta led to a cut in the overall value.
UEFA president Michel Platini said centralising the match rights was "essential''.
He told the Congress: "It is a project aimed, above all, at protecting and developing national team football. And, what is more, the knock-on effect will be guaranteed revenue for each association.
"You will therefore all be able to concentrate on the football, without having to worry what the draws might throw up and whether their outcome will be favourable - or not - in terms of TV rights.''