It was revealed last month that the company had been awarded the broadcast rights for the next three Olympics - Rio 2016, Pyeongchang 2018 and Tokyo 2020 - and that agreement now includes this month's Nanjing Youth Olympic Games, as well as a promise to promote Olympism, sport, health and education across its television network, newspapers, magazines and online media platforms.

"Seven has a lot of experience in broadcasting major sports events, and first broadcast an Olympic Games in Melbourne in 1956," Bach said.

"We are delighted that we will work with Seven until at least 2020.

"The IOC enjoys long term partnerships and this agreement is something of a homecoming between us and Seven.

"Seven has made a concrete commitment to help promote the Olympic Movement and the Olympic values, not only during each edition of the Games, but all year round, and this was an important consideration in our decision making.

"The IOC redistributes over 90 per cent of its revenues for the benefit of the wider Olympic Movement, and the funding generated by this agreement will support sport around the world, future organisers of the Games, and ultimately the athletes themselves."

Seven was the host broadcaster for the 2000 Olympics in Sydney ©Getty Images


IOC vice-president John Coates, a member of the body's Television Rights and New Media Commission, said he was also pleased to have finalised this long-term agreement with the Olympic Golden Rings award-winning broadcaster.

Seven aired coverage of every Olympics between Barcelona 1992 and Beijing 2008, but lost out on the broadcast rights for the Vancouver 2010 and London 2012 Games to Channel Nine and pay-television operator Foxtel, which jointly paid AUD122 million (£68 million/$114 million/€85 million).

It has reportedly paid less than AUD200 million (£111 million/$187 million/€139 million) for these latest rights after Network Ten and Nine dropped out of the bidding.

Kerry Stokes, Seven's chairman, said his business was "delighted to once again be entrusted with bringing the Olympic Games to all Australians".

"The Olympic Movement and Seven have enjoyed a long and deep partnership since the Games in Melbourne," he added.

"We are looking forward celebrating our five decades association with the Olympics in Rio and to taking this partnership to a new level over the coming decade."

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