NCAA Tournament announces $8.8B deal with CBS, Turner extended through 2032

NDIANAPOLIS (AP) — NCAA announced an eight-year, $8.8 billion extension of March Madness deal with CBS Sports, Turner through 2032.

The extension announced today goes all the way through 2032. The length of the contract is not unusual for college sports these days, though with the NCAA facing legal challenges on multiple fronts, a lot can change in 16 years.

Provisions in the agreement protect CBS and Turner should the tourney start to look very different. But network executives hope this deal itself increases the odds that March Madness marches on mostly the same.

"One reason we're confident the tournament will remain the premier event it is, is the financial underpinning that CBS and Turner are providing to the NCAA," CBS Sports Chairman Sean McManus told The Associated Press.

The extension pays an average of $1.1 billion per season, up from more than $770 million on average under the current contract.

McManus and Turner President David Levy expressed confidence, too, in the value of the terms – what McManus called "a very prudent decision."

"We believe it will be financially profitable at the end," Levy said.