In a major coup, BT Sport has secured exclusive live broadcast rights to the UEFA Champions League and UEFA Europa League from 2015.
The broadcaster will become the new home of European club football, after signing a three-year deal to air matches from the 2015-16 season.
At present, Sky and ITV share broadcast rights to the two midweek competitions, which feature the top sides from the Barclays Premier League and other European domestic leagues.
But BT Sport has agreed to pay £299 million per season to become the first UK broadcaster to own exclusive rights to matches from both tournaments.
The broadcaster will show hundreds of live European matches per season, with a selection to be made available free-to-air - including the finals of both competitions.
Each participating British team will also feature for free at least once each season, BT Sport has confirmed.
Gavin Patterson, Chief Executive at BT, said he is "thrilled" that BT Sport will be the only place where UK fans can enjoy all the live action from the UEFA Champions League and UEFA Europa League.
"Both tournaments are world-class and firm favourites with many," he stated.
"The live rights will give a major boost to BT Sport and give people yet another reason to take our terrific service.”
Mr Patterson added that the broadcaster has got off to "a strong start", with customers enjoying what BT Sport has to offer.
"We have attracted millions of customers by giving sport back to the fans, and can assure people who want to catch all the action, that European football will be far more accessible and affordable with BT," he stated.
BT Sport's coverage of the UEFA Champions League and UEFA Europa League will add to the 38 Barclays Premier League fixtures per season it currently airs.
The broadcaster also shows games from a variety of top domestic leagues, including the French, Italian, German, Scottish, US and Australian top flights.