Channeling its best Beyonce, NBC locked up Olympic broadcasting rights through 2032 in a reported $7.5 billion deal.

"The level of investment we made in 2011, combined with this investment, shows the value we see in this property. It also shows the returns we're able to garner," said Mark Lazarus, chairman of the NBC Sports Group.

USA Today reports:

"The confidence and the reliable promotion of the Olympic Games and the Olympic values, it's key . . . ." IOC President Thomas Bach said on a conference call.

"We're thinking long-term in the IOC. We are here for 120 years, and we want to be there much longer and we want to leave a good legacy."

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There's plenty to sweeten the pot: the deal, which covers six Olympics from 2021 to 2032, includes a $100 million signing bonus for "promotion of Olympism and the Olympic values" for the Games between now and the contract's start.

USA Track & Field, which has shackled itself in a Nike-branded gimp suit, responded with a "Hey, that's what we're doing!"

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No, it's not, responded everyone.

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[Photo: AP Images]