With many clubs having budgeted for the money they would have received from the now bankrupt ITV Digital there has been little activity in the transfer market as clubs struggle to make ends meet.
The cut backs have affected the Royals who were unable to offer super winger Sammy Igoe a contract lasting longer than a year.
The club had hinted that once a TV deal was sorted out they would make some new signings to bolster the squad for the forthcoming Division One campaign.
The new deal will give Sky the rights to screem more than three hundred live games. The matches screened will include sixty Nationwide League games per season, the Play Offs, the Worthington Cup and the LDV Vans Trophy Final.
Football League chief executive David Burns told BBC Online: "We have had an awful year with ITV Digital but we are very, very pleased indeed with this.
"We have secured a great deal with a great broadcast partner and it puts us right back on track.
"It strengthens football, it puts the financial stability back into the clubs which was missing.
"The message coming in from the clubs is very supportive and they are very relieved. We can now go forward into the marketplace to sell a free-to-air terrestrial TV highlights package. We are in good shape."
But the Football League are still angry about missing out on the money they are owed by ITV Digital's owners Carlton & Granada. A court case deciding who is in the right and who is in the wrong is due to start on July 26th.
David Burns went on to add: "Going to court is not the way to solve a business dispute, as someone will win and someone will lose, but when someone has broken their contract with you there is no alternative."