It this week confirmed the EBU’s general assembly had officially ratified the $746m deal, which adds to the $2.2bn deal signed with NBC and General Electric in the US.
It says with a number of territories still in discussions for TV rights, it anticipates generating more than $3bn in TV money.
And the IOC has confirmed it is set to begin negotiations with Italian broadcasters and media groups. Italy was not covered by the recent EBU renewal.
According to the IOC, in addition to the contract value, the EBU and its members have committed to major additional Olympic programming and promotional efforts to support the Olympic brand and promotion of the Olympic ideal outside Games time which the IOC values at a further EUR125m.
Said IOC president Jacques Rogge, upon the confirmation of the EBU deal: "I would like to thank all bidders for their participation in this open and transparent negotiation process and to their continued interest in the Olympic Movement. I would also like to give special thanks to IOC vice-president Thomas Bach who has been key to the successful conclusion of this process, and to Michael Payne, director of global broadcast and media rights, and media consultant Bernd Schiphorst who advised Dr Bach."
Payne has confirmed he is to quit the IOC at the end of the Athens Games this year, to become Bernie Ecclestone’s number two in Formula One.
