Scottish Premier League chief executive Neil Doncaster believes their latest television deal with Sky Sports and ESPN proves Scottish football is a product worth investing in even in a difficult economic climate.
The SPL announced on Monday night they have agreed "substantially improved terms" with the broadcasters in a deal which takes effect from the start of next season and runs until 2017. Doncaster declined to discuss the figures involved, however Press Association Sport understands the new contract is worth £80million.
He said: "It's the financial stability that our clubs are crying out for. To have Sky and ESPN contracted for five years from 2012 gives our clubs the stability in a difficult economic climate and to plan for the future."
He added: "It's nice to talk about some good news stories in Scottish football. It's not often the case that we are here to do that but we are and that's great news.
"It's a new five-year deal from 2012 to 2017. It's still the same 60 live games that ESPN and Sky show at present but it's improved terms. It's substantially improved terms financially.
"I can't give the precise details as to what the deal is worth but there will be more money coming into the SPL as a result of the deal.
"It's greatly encouraging and I think it shows the real confidence that exists, that Sky and ESPN have in Scottish football. It's real testament to the work that our clubs are continuing to put in."
Doncaster also expects the announcement to boost the SPL's search for a new title sponsor, after confirming less than two weeks ago that Clydesdale Bank will end their current sponsorship at the end of the 2012-13 campaign.
He said: "It's vital to have a robust broadcast partner announced before you start the search for a new title sponsor.
"The timing is not of our choosing but the reality is, with Clydesdale Bank having made their decision, this puts us in a really good position to go to the market. The search starts now. To start the search on the back of a robust new contract with Sky and ESPN is the best possible way to do that."