The AFL has secured a two-year extension to its broadcast deal with Foxtel and Telstra in a huge boost for the competition after a year of financial turmoil due to the coronavirus pandemic.

The extension with the pay TV provider and telecommunications giant covers the 2023-24 seasons, matching that signed by free-to-air broadcaster Seven West Media in June.

AFL chief executive officer Gillon McLachlan said the broadcast deals are worth $946 million to the competition over those two years.

“After a challenging and at times uncertain 2020, this is a massive vote of confidence in our game at all levels,” McLachlan said.

“It provides greater financial certainty in the years ahead, and ensures our fans continue to have the ability to watch men’s and women’s footy wherever they are.

“The extended partnerships ensure that we’re not only able to rebuild our game, but take it to more and more people.”

The AFL signed a seven-year, $2.5 billion broadcast deal with Seven West Media, Foxtel and Telstra in 2015.

The deal was revised in June, with a reduction on the 2020 payments based on a shortened 153-game home-and-away season plus finals.

At that time, Seven West Media signed a two-year extension to the end of 2024.

The influx of broadcast revenue for 2023-24 with commitments from Foxtel and Telstra represents an increase on the previous deal.

The parties declined to confirm the breakdown of payments.

McLachlan said the broadcast revenue will help the AFL rebuild the balance sheets of its clubs – many of which have struggled under financial pressure during the COVID-19 pandemic this year.

It will also enable the AFL to review its funding models, collective bargaining agreements with players and football department spending caps.

“The uncertainty around COVID we believe will be around next year and this deal is a show of faith from our broadcast partners and a show of strength for our product,” McLachlan said.

“What it will enable us to do is to work with our clubs – those in trouble and the stronger ones – with a four-year funding envelope.

“I feel very, very confident that we will rebuild the balance sheet of all our clubs and of the industry by the end of this agreement by working hand-in-glove with the clubs.

“Even if next year continues to be uncertain, we’ll make sure we make the prudent decisions for the long-term strength of clubs and the game.”

As part of the new deal, Telstra will partner with the AFL to upgrade technology at Marvel Stadium and enhance the fan experience at the league-owned venue.