OLYMPICS Record bidding could be reached for Games

Under the previous IOC president, negotiations took place in secret.
LAUSANNE, Switzerland (AP) -- The Olympics' magic number is $2 billion.
That's the record figure that could be reached when U.S. networks bid for the rights to the 2010 and 2012 Games.
In the first U.S. rights negotiations in eight years, the parent companies of ABC, Fox and NBC will make their pitches to the International Olympic Committee today and Friday.
Network executives will submit financial offers in sealed envelopes to IOC president Jacques Rogge on Friday. Rogge and a small group of experts will immediately begin examining the bids and could announce a decision by Sunday.
Considered favorite
NBC, in the midst of a five-games deal covering all the Olympics from 2000 to 2008, is considered a favorite because of its status as incumbent, known quantity and close partner of the IOC.
In a pair of stunning deals in 1995, NBC secured the rights for five Olympics for $3.5 billion. Those negotiations, under former IOC president Juan Antonio Samaranch, took place in secret without the other networks getting a chance to bid.
This time, Rogge pledged an open process giving everyone a fair shot.
NBC paid $1.5 billion for the rights to the 2006 Winter Games in Turin, Italy, and the 2008 Summer Olympics in Beijing. Experts predict the two-games total this time will approach or exceed the $2 billion mark -- a one-third increase.
"I would think the winning bid might start with a 2," Dick Pound, the IOC's former TV rights negotiator, said. "If you take what was negotiated in 1995 and if you just apply the cost of living to that, it's close to $1.8 billion already. Extrapolate even further and I think you get to 2."
The IOC says it is looking for the network which offers the best overall package, not necessarily the most money. The rights package will include broadcast, cable, Internet, video-on-demand, pay-per-view and other services.
"The IOC has made it very clear that the financial element is critically important but it is no longer the only element," IOC marketing director Michael Payne said. "Promotion, breadth of coverage, programming commitments between the games and support of the Olympic brand are other important factors."
The auction is taking place without the networks knowing where the two games will be held. The 2010 winter site will be selected on July 2, while the 2012 summer host will be picked in 2005.