IOC to Bear Up to 800 M. Dollars for Delayed Tokyo Games
London, May 14 (Jiji Press)--The International Olympic Committee is expected to shoulder up to 800 million dollars, or some 85.6 billion yen, for the one-year postponement of the Tokyo Olympics to summer 2021 due to the new coronavirus outbreak, President Thomas Bach said Thursday.
Bach unveiled the prospect during an online press conference after an IOC Executive Board meeting, which was also held online.
Of the additional costs to be borne by the IOC, 650 million dollars will be used as expenses to operate the Tokyo Olympic Games, which will begin on July 23, 2021, and 150 million dollars will be spent to mainly aid the International Federations and the National Olympic Committees.
While the postponement of the Tokyo Olympics is expected to cost hundreds of billions of yen in total, Bach did not mention the possible dividing of the additional costs with the Japanese side.
On the possibility of pushing back the Tokyo Olympic Games again or changing locations if the outbreak is not contained, Bach noted that there are still 14 months until the opening of the Tokyo Olympics.
[Copyright The Jiji Press, Ltd.]