Erik Brady

USA TODAY Sports

The men’s NCAA basketball tournament will remain on CBS and Turner through 2032 thanks to an eight-year, $8.8 billion extension announced Tuesday.

CBS Sports and Turner will provide live coverage of all games on any platforms they choose — including, the announcement said, “those to be created over the life of the agreement.” One Shining Moment montage in hologram, anyone?

“If people have access to that, then the answer is yes,” CBS Sports chairman Sean McManus told USA TODAY Sports on a phone call that included NCAA president Mark Emmert and Turner president David Levy.

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McManus said CBS started informal talks with Turner last summer and began negotiating with the NCAA in the fall and that agreement was reached about three weeks ago.

“Part of the reason this deal took a fairly long time to consummate was we wanted to make sure we had access to all of those rights,” McManus said, including platforms not yet thought of.

Emmert said the NCAA generates revenue only from its 90 championship events “and the men’s basketball tournament is 90% of the total revenue that flows into the association and back out to the schools.”

The original deal with CBS and Turner was 14 years and $11 billion through 2024 and every tournament game was presented live in its entirety on national TV for the first time.

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“It’s been a fabulous success for the first six years,” said Emmert, who joked that 2032 was chosen because he turns 80 that year.

“From our perspective, this has been a great strategic partnership with CBS and has exceeded all of our expectations on every metric possible,” Levy said.

“This extension provides certainty to our diverse membership during a time when the television media landscape is experiencing rapid change,” NCAA executive vice president of championships and alliances Mark Lewis said in a statement. “Providing a level of resource stability is something we felt important to accomplish for our membership.”

Other highlights in the joint announcement:

► All opening- and first- and second-round games will continue to be shown across TBS, CBS, TNT and truTV. Turner and CBS will split coverage of the regional semifinals and regional finals each year. The Final Four national semifinals and national championship will continue to alternate between CBS and Turner, with CBS broadcasting the games next year and TBS televising them in 2018.

► Television coverage across TBS, CBS, TNT and truTV has averaged more than 10.2 million total viewers in its respective game telecast windows over the last six years.

► CBS Sports and Turner will continue to manage and collaborate on the NCAA’s corporate marketing program. Turner will continue to manage March Madness Live and NCAA.com, along with major events surrounding NCAA championships, including the NCAA March Madness Fan Fest and Music Festival.

► Turner and CBS Sports will maintain the existing sales partnership surrounding the NCAA Corporate Champion and Partner program, which has grown from nine to 19 members since the previous deal was announced in 2010.

► More than 90% of the revenue generated from this extension, as with the current and previous contract, will be used to benefit college athletes through programs, services or direct distribution to member conferences and schools.

While the extension takes effect beginning with the 2025 tournament, the NCAA will begin receiving money from the new deal during the later years of the existing contract.

According to the association’s most recent audited financial statement, it is getting an estimated $740 million during the fiscal year ending Aug. 31, 2016. The payments increase by a little less than 3% per year through 2020, when the NCAA is scheduled to get $827 million. The amounts owed for 2021 through 2024 are not broken down in the document — it simply lists a total of $3.466 billion for those years.

In response to a question from USA TODAY Sports, the NCAA said in a statement: “The Board of Governors has the exclusive responsibility to manage all financial matters of the NCAA, including the implications of the Turner and CBS contract extension. The contract extension addresses the lack of annual increases under the last years of the contract that was signed in 2010.”

Contributing: Steve Berkowitz

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