Postponement of Tokyo Games to cost US $2.8 billion

The postponement of the Tokyo Games until next year because of the COVID-19 pandemic will cost US $2.8 billion.

The extra costs will be shared by the Tokyo 2020 Organizing Committee, Tokyo Metropolitan Government and the Japanese Government.

The Tokyo Metropolitan Government will reportedly pay $1.1 billion with the Organizing Committee contributing $1 billion. The remaining $700 million would be covered by the Japanese Government.

The extra costs come as organizers and Olympic officials work to build enthusiasm and momentum for the first Games postponed in peacetime, insisting that the massive international event can go ahead next year
even if the pandemic is not under control.

Tokyo 2020 and the IOC announced 50 cost-cutting measures since the postponement, which they claim will save $288 million.

Tokyo 2020 will reportedly spend $960 million (£720 million/€801 million) on COVID-19 countermeasures. Tokyo 2020 was set to cost around $13 billion before it was postponed in March.



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