LAUSANNE, Switzerland (AP) — NBC secured the U.S. broadcast rights to the Olympics through 2032 on Wednesday in a record six-games deal worth $7.75 billion.
NBC already holds the rights through the 2020 Olympics in a four-games deal signed in 2011 for $4.38 billion.
The latest deal was announced Wednesday after secret negotiations between the IOC and NBC. There was no auction or open bidding this time, with only NBC making an offer.
The negotiations were led by International Olympic Committee President Thomas Bach.
The agreement goes into effect from 2021 and covers the Summer Olympics of 2024, 2028 and 2032 and the Winter Games of 2022, 2026 and 2030.
The deal covers all media platforms, including free television, subscription TV, Internet and mobile rights. The deal is valued at $7.65 billion, plus an extra $100 million for promotion of the Olympics between 2015 and 2020.
“This agreement is excellent news for the entire Olympic Movement as it helps to ensure its financial security in the long term,” Bach said. “The IOC has worked in close partnership with NBC for many decades, and we are thrilled we will continue to work with them through to 2032.”
Steve Burke, CEO of NBC Universal, called it “one of the most important days in the history” of the network.
By 2032, NBC will have covered a total of 23 editions of the Olympics.
REGISTER NOW for the 2014 Allstate Tom Joyner Family Reunion taking place August 28- September 1, 2014 in Orlando, Florida! For booking information visit here.
(Photo Source: AP)