"The unwillingness of both firms to bid aggressively comes just weeks after the announcement of a deal to cross-sell each other's content, breaking a 4-year rivalry which had previously threatened Sky's two decade sporting hegemony".
It's about £9.3 million a match compared with £11 million under its current deal.
The company brought the other package on offer in the auction, shifting its Saturday slot of 5.30pm to 32 games at 12.30pm.
In 2012, BT and Sky paid £3bn for the rights to show matches between 2013 and 2015, up from £1.77bn in the previous three-year cycle.
Analysts at Jefferies said Sky, which has used Premier League soccer to help build its pay TV business over more than two decades, had emerged as the victor in the auction for domestic TV rights from 2019-22.
BT has made top tier sport far more affordable in the United Kingdom in recent years.
Nor is its hand markedly weaker as it negotiates with Virgin Media which needs to secure continued access to BT Sport in order for its own services to remain competitive.
With the much hyped mega bid from Amazon failing to materialise, some have moved swiftly to cover their blushes by reframing discussion of the Premier League auction as a battle between Sky and BT in which the second of these emerged fundamentally weakened.
However, that level of inflation was not expected to be matched this time around.
The Premier League is attempting to sell its TV rights for 2019-22.
According to Premier League that the two live packages has attracted "interest from multiple bidders".
The two remaining rights packages are for: all 20 matches from one Bank Holiday and one mid-week fixture programme; and all 20 matches from two midweek fixture programmes.
Various reports have credited Amazon, ITV, BT and Sky among those interested in acquiring the rights to those final packages.
English Premier League (EPL) insiders say that they are not concerned about the potential fall in the value of the domestic rights because the overseas television deals are projected to rise significantly.
The Premier League's United Kingdom broadcast rights sales process has not yet concluded, but we can announce that five of the seven live packages have been awarded.
Therefore, the Premier League is providing this progress update.
Meanwhile Sky UK chief executive Stephen van Rooyen said: "We continue to invest in content that our customers value and which complements our strategy to broaden our offer".
"A direct to consumer platform would be a bold approach in the European rights market", Moore said.
"Sky is the big victor from the Premier League auction".