IOC to bear $800 million for delayed Tokyo Olympics

The International Olympic Committee (IOC) said on Thursday that it expects to bear costs of up to 800 million dollars for delayed Tokyo Olympics. IOC President Thomas Bach said that 650 million dollars would be spent on the operation of the Tokyo Olympics and the remaining 150 million dollars would be used to support international federations and national Olympic committees.

Meanwhile, 800 million dollars does not include costs the Japanese government and the Tokyo Olympic Committee have to pay for the one-year delay of the Olympics. The additional costs are estimated at between 3 trillion won and 7 trillion won in total.

When asked if the Tokyo Olympics will be postponed once again in case the COVID-19 pandemic is not contained until next year, Bach said the organization is “working with full engagement for the success of Tokyo 2020 in 2021.” "We are one year and two months away from the opening of these postponed Olympic Games,” he said. “We should not fuel any speculation on any future development.”


Jae-Yeong Yoo elegant@donga.com