But the agreement, concluded after 48 hours of round-the-clock negotiations, does not include Italy after what appears to be a major falling out between the IOC and state broadcaster RAI.
Like the recent North American agreement with NBC, valued at $2.1 billion, the European deal covers all television, radio, mobile, video-on-demand, internet, broadband and audio rights.
Detailed figures are expected to be announced shortly but we understand the amount paid represents an increase of around 40 per cent on the existing $578 million deal.
Tenders for the rights were issued in March and IOC International Broadcast Director Michael Payne made it clear that, in order to address the opportunities offered by digital technology, proposals would be considered from groups including sports marketing agencies as well as individual broadcasters. Payne says the IOC was prepared to sell the property territory-by-territory had it been necessary.
Early suggestions were that the EBU’s initial bid was way off the pace.
While the 2010 Winter Games will be held in Vancouver, the host of the 2012 Summer games will not be decided until next year. London, Paris and Madrid are among the leading contenders.
However, despite its success, EBU members are likely to be frustrated by the attitude of RAI. The IOC has been critical of its level of support for the upcoming Winter Games in Turin and there are suggestions that the Italians’ approach to negotiations may have prejudiced their eventual successful outcome.
