Britain, along with the other major European markets, France, Germany and Spain, are not part of the agreement that gives Sportfive the rights across all media platforms, including free-to-air television, subscription television, internet and mobile phone, across 40 countries. 

It follows the breakdown in talks last December between the IOC and the European Broadcast Union (EBU) over the rights for the Winter Games in Sochi and a city that still has to be chosen to host the 2016 Summer Olympics. 

Britain is seen as one of potentially the most lucrative markets for the IOC and a separate deal is expected to be negogiated which could give Rupert Murdoch's BSkyB the opportunity to screen the Olympics for the first time. 

The EBU, the largest association of national broadcasters in the world with 75 active members and 45 associate members, pulled out of discussions with the IOC because, of what one member described as, its "high financial expectations". 

BBC, a leading member of the EBU, is the self-proclaimed "Olympic broadcaster" having shown the Games every year since they were first televised in 1948, the last occasion they were held in London. 

The Olympics are also one of the "crown jewel" events in Britain - which means they must be available on free-to-air television - but Murdoch's News International could work with another broadcaster in Britain, such ITV or Channel 4, to secure some rights to them. 

Sportfive have already helped the IOC has reach agreements with Murdoch companies, Sky Italia in Italy and Fox Turkey in Turkey, to broadcast the Olympics in 2014 and 2016. 

They will now seek broadcast partners on all platforms within the territories in which it has acquired rights, with the obligation to the IOC to ensure that the broadest possible audience has access to broadcast of the Olympic Games, including a commitment in each country of at least 200 hours of free-to-air television coverage for the Summer Olympic Games and 100 hours for the Olympic Winter Games.


IOC President Jacques Rogge (pictured above) said: “This agreement marks an exciting new era in the broadcasting of the Olympic Games. 

"The IOC is committed to ensuring that as many people as possible have access to the best possible Olympic broadcast experience. 

"We look forward to working with Sportfive to make this a possibility across Europe." 

Thomas Bach, the IOC vice-president who led the negotiations, said: “The IOC is delighted to announce its partnership with Sportfive. 

"This agreement will ensure that Olympic fans across Europe have as much choice as possible in how they follow the Olympic Games across a variety of platforms. 

"The agreement will also generate significant revenues, which will be distributed throughout the Olympic Movement, including to the International Sports Federations, the National Olympic Committees and the Organising Committees for the Olympic Games, to help stage the Olympic Games and ensure the development of sport across the world." 

The EBU paid $443.4 million (£297 million) to show the Beijing Games, $135 million (£90.4 million) for the 2006 Turin Games and $740 million (£521 million) for the 2010 Vancouver and 2012 London Games. 

The IOC had wanted a fee of in excess of $1 billion (£704 million) for the 2014-2016 rights. 

TV rights fees - totaling around $3 billion (£2 billion) for a four-year cycle - provide the bulk of the IOC's revenue. 

About half goes to Olympic host cities, with the rest split among the IOC, international federations and National Olympic Committees. 

Sportfive, which was founded in 2001 and is based in Hamburg, belongs to the French media group Lagardere and already works with number of major events, including the European Champions League, the Premier League, Serie A and the World Athletics Championships. 

Richard Worth, the chief executive of Sportfive, said “We at Sportfive are honoured and delighted to have been appointed as the IOC partner for European TV rights for the 2014 and 2016 Olympic Games. 

"We have already been working together with the IOC for a number of months to reach this point, and have been positively encouraged by the excellent spirit of partnership and co-operation which has developed. 

"Our determination is to fully uphold the Olympic ideals throughout our relationship with the IOC and to establish a broadcaster network of the highest quality and commitment."