If you thought you could escape political ads by watching the Olympics, we have some bad news. A presidential candidate has bought $5 million in ads. The good news is, it’s Barack Obama!

Sen. Barack Obama’s campaign will be among the TV sponsors of NBC Universal’s Olympics coverage. In the first significant network-TV buy of any presidential candidate in at least 16 years, the Obama campaign has taken a $5 million package of Olympics spots that includes network TV as well as cable ads.

According to NBC’s political file, the campaign had initially requested information about 500,000, $2 million and $4 million package of Olympics spots. The network also offered the candidate a $10 million package.

So will this make him the Official Presidential Candidate of the U.S. Olympics? Maybe not officially.

The Obama campaign will join major advertisers including McDonald’s and Anheuser-Busch. The Beijing games begin with opening ceremonies Aug. 8.

If you’re wondering, the last person to buy time during the Olympics was Bob Dole. Hopefully Obama knows what he’s doing. And let’s face it, he hasn’t screwed up yet.

The buy comes as the Obama campaign continues to set fundraising records. Its decision not to accept federal matching money leaves it able to spend as much money as it can raise. The campaign reported it raised $52 million in June, compared with the nearly $21.5 million raised by his challenger, Sen. John McCain.