The home of the ENO is undergoing a revamp

The three-year deal should aid the financial security of the institution after a period of financial crisis.

It had to bailed out earlier this year with a �4.2m government grant, saving it from extinction.

The sponsorship will be in place for the 2004 season which will see productions of The Ring, The Trojans and The Pirates of Penzance.

ENO's home at the London Coliseum is undergoing a �41m restoration, its first major revamp since it was built in 1904.

The company has been staging its performance in other venues including the Barbican in London, but plans to re-open the Coliseum in 2004.

Martin Smith, chairman of the ENO board, said: "I am tremendously encouraged that our new corporate sponsor, Sky and Artsworld, has chosen to support ENO so generously at this important moment in our history.

"Working with our new management as we return to the restored Coliseum, I feel confident that both parties will derive substantial benefit from this exciting new relationship."

The ENO has undergone a radical management shake-up in the wake of receiving the grant from the Arts Council to ensure its financial security, under the leadership of artistic director Sean Doran.