Coca-Cola's Sanjay Guha with Chris Kamara and Lord Brian Mawhinney

Coca-Cola began its partnership with the League in 2004 and the three-year extension is a significant rise on the previous agreement.

League chairman Lord Brian Mawhinney said: "The previous sponsorship deal with Coca-Cola was the largest with which the League has been involved.

"This has now been eclipsed by the new sponsorship deal."

Lord Mawhinney added: "It is hard to convey how important this new contract is for the Football League.

"It is a win-win situation. We are making good progress."

Mawhinney also insisted the League could continue to prosper despite the ever-increasing wealth and profile of the Premiership.

Around 16 million fans will go through the turnstiles at our grounds this season, that shows we are not an irrelevance Lord Brian Mawhinney

He said: "When running the Football League, you are always conscious of the elephant in the room, which is the Premiership.

"They are bigger than us, they have more money than us, and they are going to have even more money than we do.