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Sports
What you need to know for 01/18/2017

NBC retains Olympics through 2032

NBC retains Olympics through 2032

The Olympic Games TV right won't be up for bids for a long time.

The Olympic Games TV right won't be up for bids for a long time.

The International Olympic Committee awarded NBCUniversal (NBCU) the broadcast rights in the USA for the Olympic Games through 2032, it was announced Wednesday.

The deal is worth $7.65 billion, plus an additional $100 million signing bonus to be used for the promotion of Olympism and the Olympic values between 2015 and 2020.

Three years ago, NBCU had acquired the Olympics TV rights through 2020. By 2032, NBCU will have covered a total of 23 editions of the Olympic Games, since its first Games broadcast in Tokyo in 1964.

Here are the statements about the signing.

IOC president Thomas Bach, who led the negotiations, said: “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. 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.”

Brian Roberts, chairman and CEO, Comcast Corporation (which owns NBCUniversal) said: “The Olympics are the world’s greatest cultural and athletic event, and presenting them to the American audience is an honour and privilege for our entire company. Our long-term commitment to and investment in the Olympic Movement are a reflection of our belief in the future of broadcast television, as well as our confidence that our partners at the IOC will continue to deliver great Games and that the Olympics will remain the world’s premier sports event. All of us at Comcast NBCUniversal are extremely proud that we have been entrusted to be the U.S. home for nine more Olympics, and we look forward to using all of our resources to continue our tradition of ground-breaking Olympic coverage.”

Steve Burke, CEO, NBCUniversal, said: “This is one of the most important days in the history of NBCUniversal. 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 NBCUniversal for the next two decades. 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. I want to thank the IOC for their faith in us, as well as Sports Group Chairman Mark Lazarus and NBC Olympics president Gary Zenkel, whose leadership was invaluable in bringing this deal to fruition.”

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