Pedro García Aguado receives his Olympic Gold medal from IOC President Juan Antonio Samaranch.
During his term, Samaranch made the Olympic Games financially healthy, with big television deals and sponsorships. Although the 1984 Summer Olympics were still boycotted by the Soviet bloc, the number of IOC participating member nations increased at every Games during Samaranch's presidency. Samaranch also wanted the best athletes to compete in the Olympics, which led to the gradual acceptance of professional athletes.
One achievement of Samaranch was the financial rescue of the IOC, which was in financial crisis in the 1970s. The games themselves were such a burden on host cities that it appeared that no host would be found for future Olympiads. Under Samaranch, the IOC revamped its sponsorship arrangements (choosing to go with global sponsors rather than allowing each national federation to take local ones), and new broadcasting deals, commercialising the Olympics and making them more economically viable. In 2001, Samaranch did not apply for the presidency again. He was succeeded by Jacques Rogge. He then became Honorary President for Life of the International Olympic Committee. Samaranch served the second-longest term as the head of the IOC, 21 years, the longest being that of Pierre de Coubertin (29 years). Following his retirement, Samaranch played a major role in Madrid's bid for the 2012 and 2016 Olympics, though both were unsuccessful. In 1991, he was raised into the Spanish nobility by King Juan Carlos of Spain and given the hereditary title of Marqués de Samaranch (Marquess of Samaranch), this in recognition of his contribution to the Olympic movement.