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.