Championship TV deal: What has happened so far and how it could affect Preston North End's television rights
But what happens next? Here is what we know so far as we take you through the possible solutions:
What has happened so far?
As of the start of next season, Sky have agreed to pay £595m, equating to £119m per season, for the EFL television rights, a £29m increase on the current deal.
The new deal will see Championship clubs earn around £3m-a-year before any payments are received for any live TV appearances.
However the majority of second-tier clubs have expressed a great discontent after previously asking the EFL to delay their decision and renegotiation with Sky until a later date.
Several clubs - including big names such as Leeds United, Aston Villa and Derby County, believe they are being shortchanged by Sky and believe committing to a five-year contract is far too long given the way sports broadcasting is evolving.
Leeds owner Andrea Radrizzani, who has made his millions from broadcasters ElevenSport, has led claims that a better and more lucrative opportunities lie beyond Sky's current deal.
A BBC report yesterday stated if the Sky deal is to be finalised, the "EFL should not be patting themselves on the back thinking they have won and they should not see this as being done, because in fact, they have just started a war".
In a bid to voice their alarming concerns, representatives of some Championship clubs gathered at Villa Park yesterday evening to discuss their next move after seeing initial objections to Sky’s new contract rejected by the EFL’s board.
What happened at the Villa Park meeting?
Clubs joined forces to sign a lengthy and hard-hitting statement, describing Sky's five-year contract as a "grave concern".
Below is the full statement - where clubs announced their intention to continue their fight against the matter.
“Championship clubs are gravely concerned that the EFL board has announced it has approved a new long-term domestic broadcasting rights deal.
"Nineteen clubs from the league wrote to the EFL asking them not to sign the proposed deal and to engage in meaningful discussions. This was ignored.
“The clubs discovered that in the space of 15 months, without our knowledge, material changes had been made to this draft agreement. When the EFL board presented the new version of the deal, it gave more games and rights for less money and damaged the ability of clubs to control the decision to stream games and its pricing.
“Our issues are not with Sky, who we respect and value, but with the way in which the proposed agreement has been negotiated and explained to clubs.
"We remain convinced that any solution to the broadcasting of EFL competitions can only be on the basis of protecting attendances and securing the financial position of all our 72 clubs.
“There is a calm determination within Championship clubs to ensure the matter is not left here.”
What happens next?
Despite releasing such a powerful statement on Tuesday evening, Championship clubs are yet to decide their next move.
Forming a breakaway league i.e. 'Premier League 2' - as suggested by Radrizzani - looks highly-unlikely due to the timescale and ultimately, the majority are thought to be less keen on the idea.
In more likely terms, a legal challenge could be launched if the statement is somewhat brushed under the carpet by the EFL.
But in the meantime, as stated by Championship clubs themselves, there is a growing determination to make sure their voices are heard.
Developments over the last few days certainly make for what could be a long and interesting process.