The NCAA has re-upped with CBS and Turner for coverage of the NCAA Division I Men’s Basketball Championship, known as “March Madness.” The new eight-year extension, which carries a total rights fee of $8.8 billion, covers TV, digital and marketing rights through 2032.

“Through the terms of the new deal, Turner and CBS Sports will provide live coverage of all NCAA Division I Men’s Basketball Championship games across any platform within their respective portfolios, including those to be created over the life of the agreement,” the NCAA said in its announcement. “CBS Sports and Turner will continue to manage and collaborate on the NCAA’s corporate marketing program. Additionally, 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.”

The announcement adds: “As with the current and previous contract, more than 90 percent of the revenue generated from this extension will be used to benefit college athletes through programs, services or direct distribution to member conferences and schools. Further, the agreement ensures student-athletes across all three NCAA divisions will continue to be supported through a broad range of championship opportunities, access to funds for personal and educational needs, and through scholarships in Divisions I and II.”

Tournament games have been carried on CBS, TBS, TNT and truTV, with every game in the recently concluded tournament carried live in its entirety on national television and across digital platforms.

Said CBS Sports Chairman Sean McManus:

“The NCAA Men’s Basketball Championship has been a cornerstone of CBS Sports for more than three decades, and we are very pleased to extend our successful partnership with the NCAA and Turner under the same terms that have worked so well for us these past several years. This spectacular tournament continues to solidify CBS’s position as a leading broadcaster of signature championship events, delivering an unparalleled opportunity to present one of our nation’s most popular sports franchises.”