NBC extends Olympic deal through 2032 for $7.75B

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NBC extends Olympic deal through 2032 for $7.75B
Vladislav Tretiak holds the olympic flame and runs with Irina Rodnina during the opening ceremony of the 2014 Winter Olympics in Sochi, Russia, Friday, Feb. 7, 2014. (AP Photo/Vadim Ghirda)
Canada players pose for pictures after they beat Sweden 3-0 in the men's ice hockey gold medal game at the 2014 Winter Olympics, Sunday, Feb. 23, 2014, in Sochi, Russia. (AP Photo/Mark Humphrey)
This photo provided by bobsledder Johnny Quinn of the United States shows a door he broke through after realizing he was locked in a bathroom inside the athlete's village, during the 2014 Winter Olympics, in Sochi, Russia. An unknown during stints in the NFL with Green Bay and Buffalo, Quinn literally burst onto the world's stage last week after he tweeted the photo on Feb. 8, 2014. (AP Photo/Johnny Quinn)
SOCHI, RUSSIA - FEBRUARY 05: A volunteer feeds some stray dogs ahead of the Sochi 2014 Winter Olympics on February 5, 2014 in Sochi, Russia. (Photo by Pascal Le Segretain/Getty Images)
FILE - This Nov. 16, 2013 file photo shows Jimmy Kimmel at the 4th Annual Variety's Power of Comedy Event in Los Angeles. Kimmel said Thursday, Feb. 20, 2014, he cooperated with luger Kate Hansen to post a fake video of a wolf wandering the hall outside the athlete's room in Sochi. Instead, Kimmel's staff rented a wolf and built a set in Los Angeles that was a replica of the dorm and filmed the animal walking around (Richard Shotwell/Invision/AP, File)
Russian President Vladimir Putin, left, awards Russian Olympic champion in figure skating Tatyana Volosozhar after Sochi 2014 Winter Olympics on Monday, Feb. 24, 2014, in Sochi, Russia. (AP Photo/RIA Novosti Kremlin, Mikhail Klimentyev, Presidential Press Service)
In a photo provided by NBC Olympics, NBC's Bob Costas prepares for broadcast at an anchor desk in Sochi, Russia, Sunday, Feb. 16, 2014. Costas plans to make his return to NBC on Monday after being off the air for a week with an eye infection. (AP Photo/NBC Olympics)
Ice dance figure skating gold medalists Meryl Davis and Charlie White of the United States, center, wave as silver medalists Tessa Virtue and Scott Moir of Canada, left, and bronze medalists Elena Ilinykh and Nikita Katsalapov of Russia applaud during their medals ceremony at the 2014 Winter Olympics, Tuesday, Feb. 18, 2014, in Sochi, Russia. (AP Photo/Morry Gash)
SOCHI, RUSSIA - FEBRUARY 13: Evgeny Plyushchenko of Russia withdraws from the competition after warming up due to injury during the Men's Figure Skating Short Program on day 6 of the Sochi 2014 Winter Olympics at the at Iceberg Skating Palace on February 13, 2014 in Sochi, Russia. (Photo by Robert Cianflone/Getty Images)
Men's super-G joint bronze medal winner Bode Miller of the United States breaks down in tears during an interview at the Sochi 2014 Winter Olympics, Sunday, Feb. 16, 2014, in Krasnaya Polyana, Russia. (AP Photo/Christophe Ena)
Russia's Anton Gafarov falls with a broken ski during his men's semifinal of the cross-country sprint at the 2014 Winter Olympics, Tuesday, Feb. 11, 2014, in Krasnaya Polyana, Russia. (AP Photo/Matthias Schrader)
Members of the punk group Pussy Riot, including Nadezhda Tolokonnikova in the blue balaclava and Maria Alekhina in the pink balaclava, are attacked by Cossack militia in Sochi, Russia, on Wednesday, Feb. 19, 2014. The group had gathered in a downtown Sochi restaurant, about 30km (21miles) from where the Winter Olympics are being held. They ran out of the restaurant wearing brightly colored clothes and ski masks and were set upon by about a dozen Cossacks, who are used by police authorities in Russia to patrol the streets. (AP Photo/Morry Gash)
(L-R) Russia's silver medalist Maxim Vyleghzanin, Russia's gold medalist Alexander Legkov and Russia's bronze medalist Ilia Chernousov pose on the podium during the Men's Cross-Country Skiing 50km Mass Start Free Victory Ceremony at the Closing Ceremony of the Sochi Winter Olympics on February 23, 2014. AFP PHOTO / PETER PARKS (Photo credit should read PETER PARKS/AFP/Getty Images)
SOCHI, RUSSIA - FEBRUARY 23: Athlete Kate Hansen dances at the closing party after the 2014 Sochi Winter Olympics Closing Ceremony at Fisht Olympic Stadium on February 23, 2014 in Sochi, Russia. (Photo by Ryan Pierse/Getty Images)
Performers recreate the ring that did not open during the opening ceremony during the closing ceremony of the 2014 Winter Olympics, Sunday, Feb. 23, 2014, in Sochi, Russia(AP Photo/Ivan Sekretarev)
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NBC secured the U.S. broadcast rights to the Olympics through 2032 on Wednesday in a record six-games agreement worth $7.75 billion, a surprise deal that shuts out rival American networks and provides further long-term financial security to the IOC.

In a deal negotiated secretly over six months, the International Olympic Committee awarded the exclusive rights to NBC on all media platforms for three Summer Games and three Winter Games - a potential boost for a U.S. bid to host the games.

NBC already holds the rights through the 2020 Olympics in a four-games deal signed in 2011 for a then-record $4.38 billion.

There was no auction or open bidding this time, with only NBC making an offer. NBC had outbid Fox and ESPN in 2011 for the previous rights.

The new 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 host cities for all those games have yet to be chosen.

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 going back to the 1964 Summer Games in Tokyo. The network has broadcast every games since the 2000 Sydney Olympics.

According to the IOC, the new deal breaks down this way: $2.5 billion for the Olympics of 2022 and 2024, $2.55 billion for 2026-2028 and $2.60 billion for 2030-2032.

The accord marks a big victory for Bach, who was elected IOC president in September, taking over from Jacques Rogge after 12 years in office. In a conference call, Bach called it "a happy day for the whole Olympic movement."

The agreement came down to the IOC doing business with people they know.

"We know that, with this long-term agreement, the Olympic Games and the Olympic values are in good hands with a partner we trust," Bach said. "We have full confidence in and we can say this because of the long-time experience we have with NBC."

Bach cited NBC's "great expertise in Olympic broadcasting and the passion always showed for the Olympic Games."

Brian Roberts, chairman and CEO of Comcast, which owns NBC, said the network was encouraged to make a new deal because of the profits and strong ratings from the 2012 London Olympics and 2014 Sochi Winter Games.

Bach said there was no reason to open up bids to other networks.

"We wanted to build on this long-term partnership with NBC," he said. `We could be sure, we are sure, that the Olympic Games will be presented in a way the Olympic spirit requires and how we see it. ... We didn't see any reason to take any risk with regards to broadcast and presentation of the Olympic Games in the United States."

Bach said he first floated the idea of a new long-term deal with NBC at a dinner in New York in November. He held further talks with Roberts during the Sochi Games and continued the negotiations under wraps, with only his closest aides informed.

"The last touch was given to the deal this afternoon," Bach said.

The agreement could benefit a potential U.S. bid to host the Olympics. The U.S. hasn't held the Summer Games since Atlanta in 1996. The U.S. Olympic Committee is currently considering cities for a possible bid for the 2024 Summer Games, which will be awarded in 2017.

The IOC and NBC said the deal was made without any guarantees of where the games will be held.

"The allocation or the election of the host city is not about money," Bach said. "There are many more factors to be considered. We were signing this agreement even before the procedure for the 2024 has started.

"Having said this, a strong bid from the United States would be very much welcome, would be a very strong competitor. We have full confidence in our friends in USOC that they are following their procedure and then come up with a strong candidate for 2024."

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Sochi Olympics Day 3
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NBC extends Olympic deal through 2032 for $7.75B
Sartakov Pavel Albertovich takes a selfie in front of the Olympic Cauldron at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Morry Gash)
In this third in a sequence of four images, two seconds after the previous one, Russian President Vladimir Putin turns toward a TV screen in the presidential lounge while waiting to be introduced at the opening ceremony of the 2014 Winter Olympics on Friday, Feb. 7, 2014, in Sochi, Russia. Early in the ceremony, the image on the TV cut to performers after one of the five Olympic rings failed to open. (AP Photo/David Goldman, Pool)
Fans limbo dance under a U.S. flag to celebrate Jamie Anderson's gold medal in the women's snowboard slopestyle final at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Sergei Grits)
Fans limbo dance under a U.S. flag to celebrate Jamie Anderson's gold medal in the women's snowboard slopestyle final at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Sergei Grits)
United States' Bode Miller reacts after finishing the men's downhill at the Sochi 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Gero Breloer)
United States' Bode Miller reacts after finishing the men's downhill at the Sochi 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Jae C. Hong)
Elena Ilinykh, left, embraces Julia Lipnitskaia of Russia, second from left, after she and Nikita Katsalapov of Russia competed in the team free ice dance figure skating competition at the Iceberg Skating Palace during the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Darron Cummings, Pool)
Julia Lipnitskaia of Russia watches Elena Ilinykh and Nikita Katsalapov of Russia compete in the team free ice dance figure skating competition at the Iceberg Skating Palace during the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Darron Cummings, Pool)
Julia Lipnitskaia of Russia gestures to spectators in the results area after competing in the women's team free skate figure skating competition at the Iceberg Skating Palace during the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Darron Cummings, Pool)
Nothing like tweeting with William Shatner this morning. http://t.co/eyFMi42XMy
Women's moguls medalists from left, Hannah Kearney of the United States, bronze, Canada's Justine Dufour-Lapointe, gold, and her sister silver medalist Chloe Dufour-Lapointe pose during their medal ceremony at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/David Goldman)
Women's moguls freestyle skiing gold medalist Justine Dufour-Lapointe of Canada smiles while followed by her sister silver medalist Chloe Dufour-Lapointe during their medals ceremony at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Morry Gash)
Canada's Justine Dufour-Lapointe, center, bites her gold medal while flanked by bronze medalist Hannah Kearney of the United States, left, and her sister silver medalist Chloe Dufour-Lapointe during their medals ceremony for the women's moguls at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Sochi, Russia. (AP Photo/Morry Gash)
Canada's Justine Dufour-Lapointe, right, is congratulated by her sister, Chloe, after taking first place in the women's moguls final at the 2014 Winter Olympics, Saturday, Feb. 8, 2014, in Krasnaya Polyana, Russia. Justine won the gold medal and Chloe took the silver. (AP Photo/Jae C. Hong)
Canada's Justine Dufour-Lapointe, right, celebrates her gold medal in the women's moguls final, with her sister and silver medalist Chloe Dufour-Lapointe, left, at the Rosa Khutor Extreme Park, at the 2014 Winter Olympics, Saturday, Feb. 8, 2014, in Krasnaya Polyana, Russia. (AP Photo/Andy Wong)
Afghan President Hamid Karzai, right, waits to order a coffee in the presidential lounge before the opening ceremony of the 2014 Winter Olympics, Friday, Feb. 7, 2014, in Sochi, Russia. (AP Photo/David Goldman, Pool)
Exterior view of hotels and shops at the Rosa Khutor hotel complex are pictured ahead of the 2014 Winter Olympics, Tuesday, Feb. 4, 2014, in Krasnaya Polyana, Russia. (AP Photo/Michael Sohn)
People walk past hotels and shops at the Rosa Khutor hotel complex ahead of the 2014 Winter Olympics, Tuesday, Feb. 4, 2014, in Krasnaya Polyana, Russia. (AP Photo/Michael Sohn)
Norway's bronze medal winner Anders Bardal jumps onto the podium as Slovenia's silver medal winner Peter Prevc, left, and Poland's gold medal winner Kamil Stoch, center, applaud after the men's normal hill ski jumping final at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Matthias Schrader)
Norway's Anders Bardal makes his first attempt during the men's normal hill ski jumping final at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Dmitry Lovetsky)
Russia's Olga Vilukhina competes to win the silver medal in the women's biathlon 7.5k sprint, at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Felipe Dana)
Germany's Andrea Henkel prepares to shoot during the women's biathlon 7.5k sprint, at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Gero Breloer)
A vendor gives a thumbs up at her merchandising booth at the 2014 Winter Olympics, Sunday, Feb. 9, 2014, in Krasnaya Polyana, Russia. (AP Photo/Gero Breloer)
SOCHI, RUSSIA - FEBRUARY 09: Thomas Diethart of Austria lands his jump during the Men's Normal Hill Individual first round on day 2 of the Sochi 2014 Winter Olympics at the RusSki Gorki Ski Jumping Center on February 9, 2014 in Sochi, Russia. (Photo by Lars Baron/Getty Images)
SOCHI, RUSSIA - FEBRUARY 09: Jarkko Maeaettae of Finland lands his jump in the Men's Normal Hill Individual Final on day 2 of the Sochi 2014 Winter Olympics at the RusSki Gorki Ski Jumping Center on February 9, 2014 in Sochi, Russia. (Photo by Lars Baron/Getty Images)
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