NBC Universal has secured a new deal valued at $7.65 billion (!) to keep the broadcast rights to the Olympic Games through 2032. The agreement, which covers rights for TV, internet and mobile, also includes an additional $100 million signing bonus to be used for promotion.
"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 International Olympic Committee President Thomas Bach, who led the negotiations.
In 2011, NBCUniversal acquired the rights to the Olympics through 2020. This new extension means NBCU will have broadcast 23 Olympics since the 1964 Tokyo Games.
NBCU CEO Steve Burke said the deal marked "one of the most important days" in NBCU history. "No event brings families together like the Olympics, and no-one in media is more accomplished or better equipped to tell the athletes' stories than NBC Sports," Burke said.