The Olympics are staying on NBC in the United States through 2032 in a record $7.75 billion deal that cut out rival networks and seals the long-term financial security of the IOC.

In a stunning, pre-emptive deal negotiated secretly over six months, the International Olympic Committee awarded the exclusive U.S. broadcast rights to NBC on Wednesday for an additional six 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.

The new agreement, which covers three Summer Olympics and three Winter Games, solidifies NBC's long-running hold on one of the world's most lucrative sports properties and offers a potential boost for a U.S. bid for the 2024 Olympics. While NBC outbid Fox and ESPN in 2011 for the previous rights, with all three networks making presentations and submitting sealed bids to the IOC, there was no auction or open bidding this time as Bach conducted hush-hush talks with NBC executives.

- Associated Press