HomeLifestyleDecision to delay Tokyo Games until 2021 could cost £650MILLION
Decision to delay Tokyo Games until 2021 could cost £650MILLION
IOC president Thomas Bach reveals decision to delay Tokyo Games until 2021 will cost Olympic organisers another £650MILLION
Thomas Bach said executive committees approved the sum to cover the costs
The sum will be split into two parts, with £530million to help reorganising costs
The remaining £120m will be divided to support international federations
Bach said the IOC will have to scale back some aspects of the 2021 Olympics
The postponement of Tokyo 2020 will cost the International Olympic Committee an additional £650million.
IOC president Thomas Bach announced on Thursday a funding package consisting of £530m to reorganise next year’s delayed Games and £120m to support international federations and national Olympic committees.
Bach said: ‘We anticipate that we will have to bear costs of up to $800m (£650m) for our part of the responsibility for the organisation of the Games.’
IOC president Thomas Bach has said the IOC is braced for a financial hit of £650million
The total bill for the postponement of the Olympics will be even greater when the costs incurred by the Japanese government and Tokyo organisers are added.
Bach also admitted the IOC will have to scale back some aspects of the Olympics in 2021 to cut costs.
He said: ‘This situation requires compromises and sacrifices. We are leaving no stone unturned to reduce the cost while maintaining the spirit of the Games and quality of the sports competition.
‘We want this Olympics to be a frugal Games, concentrating on the essentials.’
It could come as a consequence of the Tokyo Olympic Games being postponed until 2021
Last month, Tokyo 2020 president Yoshiro Mori said the Olympics would have to be scrapped if coronavirus was still spreading next year.
But while Bach refused to confirm if that was the case, he said: ‘We have a taskforce to ensure the organisation of the Games in a safe environment. The advice of the World Health Organisation plays an important role.
‘All this would greatly depend on the developments in the months to come. The taskforce is collecting all the available advice from all the experts.
‘We are one year and two months away from the Games so it is way too early to draw any conclusions. We should not fuel any speculation on any future development.’
Bach also admitted the IOC will have to scale back some aspects of the Olympics in 2021