The deal represents the largest rights fee paid to a sports governing body in Asia.
AFC president, Mohamed bin Hammam, said: “I am delighted that we have now gained the commercial security to continue our rapid development and progress at all levels of the game.
“The increased revenue reflects the value of our top-flight competitions including the AFC Asian Cup and AFC Champions League, and together with WSG, we are committed to ensuring the continuing growth of our key properties.
“As a matter of fact, we are looking to extend our cooperation after 2012 if we continue to deliver on our mutual objectives.”
“Our commitment gives AFC the strongest base possible from which to invest in football at all levels across the continent,” said Seamus O’Brien, president, World Sport Group.
Commenting on the size of the deal, O’Brien said that the sums involved showed that the stock of Asian football had never been higher.
“Consumer and corporate interest in Asian football has never been stronger,” he said.
“Fans and consumers are taking note of what we have known and believed for some time – that Asian football is definitely on a par with football in Europe and South America and has the potential to outstrip both.
“Stadia are full, media interest has never been higher and television ratings in the key markets for the major events stand head and shoulders above other sports and properties."
The current roster of blue-chip companies which sponsor the AFC include Asahi Shimbun, Coca-Cola, Emirates, Epson, FamilyMart, Hyundai, Makita, JCB, Kirin, Konica Minolta, Maxell, Nike, Nikon Samsung, Toshiba, Toyota, Yamaha,
