The International Olympic Committee’s decision to award the 2016 Summer Games to Rio de Janeiro instead of Chicago will cost it money.

U.S. TV networks are expected to push back by negotiating down the rights fees for the 2016 Games and the 2014 Winter Games in Sochi, Russia.

NBC’s Dick Ebersol told CNBC on Friday that the Rio Games were worth 10% to 15% less to U.S. TV networks, advertisers and sponsors than a Chicago Olympics would have been. NBC paid $2.1 billion for rights to the 2010 Winter Games in Vancouver and the 2012 Summer Games in London.

“Particularly among advertisers and sponsors that’s probably a 15% hit. Which would make it $150 million to $200 million there alone,” Ebersol said on CNBC. “Coupled with Rio, the IOC is looking at less television. But they’ve never voted their pocketbook. I don’t think they’re sitting there stunned there will probably be less money.”

Ebersol and Sean McManus of CBS did not returns calls from USA TODAY.

Disney’s ESPN, News Corp.’s Fox and possibly CBS are expected to bid against NBC for the 2014 and the 2016 Games. The wild card is ESPN, which might try to blow out rival bidders the way it blew out Fox last year for the rights to college football’s Bowl Championship Series (BCS) from 2011 to 2014.

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