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Olympics to remain on NBC through 2032

May 7, 2014 at 12:47 PM   |   Comments

Lausanne, Switzerland (SportsNetwork.com) - NBC will remain the broadcast home of the Olympics in the United States through 2032.

The International Olympic Committee made the announcement Wednesday, giving NBC Universal all U.S. rights for broadcast, subscription television, internet and mobile platforms. The agreement from 2021-32 is valued at $7.65 billion, plus an additional $100 million signing bonus to be used for Olympic promotions between 2015-20.

"This agreement is excellent news for the entire Olympic Movement as it helps to ensure its financial security in the long term, in particular future host cities of the Olympic Games, the athletes of the 204 National Olympic Committees and the International Sports Federations," said IOC president Thomas Bach in a statement Wednesday. "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. NBC's expertise in sports broadcasting, as well as their passion for the Olympic values, will mean we shall be able continue to offer first-class broadcast coverage of the Olympic Games to the widest possible American audience for many years to come."

NBC has broadcast every Summer Olympics since 1988 and each Winter Games since 2002. The IOC and NBC previously had an agreement through the 2020 Games.

"This is one of the most important days in the history of NBC Universal," said NBC Universal CEO Steve Burke. "The Olympics are part of the fabric of our company, and we couldn't be more excited that today's announcement guarantees that this massively popular and profitable programming will continue to air every two years on the broadcast, cable, digital and mobile platforms of NBC Universal for the next two decades."

The next two Summer Olympics are scheduled for 2016 in Rio de Janeiro and 2020 in Tokyo, while the 2018 Winter Games are slated for PyeongChang, South Korea.

[SportsNetwork.com]

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