The deal represents a 275 per cent increase over the current four-year deal, which is worth $80m, The FA said in a statement.
"This new deal is excellent news for the organisation, following on the back of opening Wembley Stadium, passing the Structural Review of the organisation, finalising our commercial partner programme and securing a domestic broadcast agreement,” said FA chief executive Brian Barwick.
“It means that The FA will be in its strongest-ever financial position, allowing us to substantially increase our investment back into all levels of the game. The new deal also underlines the enormous popularity of the England team and The FA Cup around the world, at a time when FIFA has opened the way for a possible English bid for the 2018 World Cup."
The identity of the successful bidders will be announced once the contracts are finalised.
