NBC cut an extention with the Olympics (industry observers didn't even see it coming) for $7.65 billion. That's $1.275 billion for each games, for the U.S. broadcast, cable, internet, and mobile rights, along with an additional $100 million signing bonus to promote the games that take place between 2015 and 2020.
NBC, which is owned by cable giant Comcast, and the International Olympic Committee said that they were extending their U.S. television rights deal for six Olympic events beginning in 2021 through 2032.
So why is the GREAT for the NBA? From Buzzfeed:
The NBA league contract that expires in two years is basically the only major sports rights package available before 2020. That means the NBA has a strong negotiating position in the marketplace as its television contract gets close to an expiration date.
“The NBA’s television contract is coming up at a favorable time in the cycle,” said Marc Ganis, president of Sports Corp Limited, noting that professional football, baseball, and hockey, as well as college football, all signed new long-term national television rights deals in recent years. “There are more networks in the marketplace that need NBA games than will get them.”
Good timing for Adam Silver. Assuming more owners don't get recorded by their gold digger "girlfriends." For more: