New reports state that Electronic Arts Sports is close to finalizing an extension with Premier League for the rights to be the exclusive electronic games licensee.

This deal (via Sky News) is stated to be worth close to £500 million ($603 million) over the course of six years.

This extension would make it more than double the previous deal, though it is just over half of what FIFA had been asking EA in terms of money, while also only lasting for four years.

Because of the aforementioned deal falling through, the popular video game franchise FIFA is no more.

Instead, Electronic Arts will change the name of future installments to EA Sports FC, as a result of losing the naming rights.

This deal is massive going forward, both because of its value, but also due to the Premier league covering the top of English football (Soccer in the US) with popular teams such as Arsenal, Manchester City, and Manchester United.

EA Sports FC will be making its debut sometime later this year, presumably on all current platforms as previous FIFA titles have been released.