RT Banner 2021V4.gif

China Daily

News> Sports> Content
Sunday, November 29, 2020, 18:59
Yomiuri: Tokyo Olympics to cost extra US$1.9 billion
By Bloomberg
Sunday, November 29, 2020, 18:59 By Bloomberg

The organizing committee for the Tokyo Olympics and Paralympics estimated the additional costs for postponing the events to the summer of 2021 to be about 200 billion yen (US$1.9 billion), the Yomiuri newspaper reported.

The postponement of the Tokyo Games to 2021 has caused logistical headaches, but was far less painful than cancellation for the host, sponsors, broadcasters and others with billions of dollars invested in it

The committee will discuss the plan with the Japanese and Tokyo metropolitan governments and decide next month how to split the costs, Yomiuri reported Sunday, citing unidentified Olympic officials.

A spokesman for the organizers, asked about the report, told Reuters by text message that only the committee was examining the extra costs associated with the delay.

The Tokyo Games, set for July 23 to Aug 8, 2021, were delayed by a year due to the coronavirus pandemic, the first time an Olympics was postponed since the modern games began in the 19th century.

ALSO READ: Bach encourages athletes to get ready for Tokyo Olympics

Yomiuri said members of the organizing committee had initially voiced concern that the extra costs could run to as much as 300 billion yen, but ultimately agreed with the International Olympic Committee to simplify aspects of the games to save money.

The postponement costs include payment to staff as well as the introduction of new systems for refunding tickets but do not include measures against the spread of the coronavirus, Yomiuri reported.

The additional costs don’t include countermeasures against the spread of COVID-19, as these are primarily being handled by the Japanese government, according to the report.

READ MORE: Bach projects confidence in Tokyo Games as new cases surge

The Games cost 1.35 trillion yen (US$13 billion) before the postponement, according to the report.

The organizers had originally estimated that the delay would cost nearly 300 billion yen but they were able to reduce that figure by simplifying some events, according to the report.

The shift to 2021 has caused logistical headaches, but was far less painful than cancellation for the host, sponsors, broadcasters and others with billions of dollars invested in it.

With Reuters' inputs


Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !