Hamish and Andy look set to sign a lucrative new TV deal with the Seven Network, according to showbiz reporter Peter Ford.

The multi-year deal will see them produce a series of TV specials in the lead-up to the Rio Olympics in August. DeciderTV understands the comedy duo will also produce content closely tied to their syndicated radio program, with trips to locations including South Africa under consideration.

Hamish and Andy commenced their commercial TV career at Seven in 2004, that program only lasted on-air for 6 weeks but helped launch the careers of a number of performers including Chris Lilly and Andrew O'Keefe.

A spokesperson for Seven was unavailable for comment at the time of publication.