GENEVA, Switzerland, May 30 (UPI) -- The run-up to the 2012 Olympic games will bring an estimated $3.5 billion in broadcasting rights revenues to the Swiss-based International Olympic Committee.
IOC President Jacques Rogge said his group would "most certainly generate $3.5 billion on TV rights" in the four-year run-up to the 2012 Games, the Financial Times reported Monday.
A new standardized open tender process that has increased competition among broadcasters is credited with the increased estimated revenues.
Currently, host city organizing committees are entitled to 49 percent of the income raised from broadcasting rights, with the balance retained by the IOC for distribution to international sports bodies.
But after the 2008 Beijing Olympics host cities will get a fixed amount of broadcasting rights revenues.
The 2012 games will be held in London, Madrid, Moscow, Paris or New York.
