The International Olympic Committee expects to bear costs of up to $1.3 billion for its part in the organisation of the postponed Tokyo 2020 Olympics, now due to be staged next year.
In March, the International Olympic Committee and the Japanese
government decided to delay the Games, which were due to start this
July, for a year because of the coronavirus pandemic.
“We anticipate we will have to bear costs of up to $800 million for
our part and responsibilities in the organisation of the postponed Games
Tokyo 2020,” IOC President Thomas Bach said at the end of the IOC’s
executive board meeting.
He said out of the amount that would be set aside $1 billion would go
towards the organisation of the Games next year and $300 million to
support international federations and National Olympic Committees.
International federations rely on the Olympic Games contribution
every four years, and with a ban on sports competitions worldwide all of
their major sources of revenue have dried up in recent months.
“We are discussing with international federations the consequences of
the postponement… and the postponement of the share of the
international federations from the commercial success of the Games,”
“We are very well advanced in these discussions and we will continue to assist,” he said.
The figure announced by Bach does not include any costs Tokyo Games
organisers and the Japanese government have to incur due to the 12-month
delay of the world’s biggest multi-sports event.
“We are assessing and continue to discuss jointly the respective
impact caused by the postponement,” he said. “What you have seen today,
this envelope of $800 million, is the assessment for the IOC side.
“This discussion with the (Tokyo Games) organising committee will continue in the way we have agreed.”