Saracens' relegation last week has sparked an unprecedented bidding war for Championship TV rights that could give the RFU a major windfall.

Sky Sports are the rights-holders for the second tier, which is owned by the RFU, with a contract to show a minimum of 11 matches a year, but that deal expires at the end of this season.

Sky are keen to retain Championship rugby, but Saracens' unexpected presence in the semi-professional league next season has increased its value and they will face competition from BT Sport.

Saracens have been relegated to the Championship, sparking a potential TV bidding war

BT hold the rights to the Premiership and European Cup and are eager to cement themselves as the country's premier rugby channel.

The Championship rights were last sold in 2014 as part of a bigger package worth around £35million that included England's autumn internationals, warm-up games before the 2015 and 2019 World Cups and England women's matches.

The presence of Saracens in the Championship next season gives the RFU an opportunity to sell the competition as a stand-alone package and bring in significant new cash.

The situation is complicated by the RFU being about to sell a share of the union to CVC Capital Partners, as part of a bigger deal that will see the private equity company take a 15 per cent stake in the Six Nations and its composite unions.

Owen Farrell and Co will be playing in the second tier if they stay with the club for next season

CVC's long-term plan is to bundle together all their rugby properties, which are set to include the Six Nations, autumn internationals, the Premiership, Championship and Pro14 leagues, in the hope of achieving a bumper television rights deal.

But as Sportsmail reported on Wednesday, that is unlikely to happen in time for the next broadcast cycle.

RFU sources revealed they are working on plans for the next Championship broadcast deal and expect a resolution by the summer.