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IOC expects costs for the delayed Tokyo Olympics of up to $800 million

Image:-IOC expects costs for the delayed Tokyo Olympics of up to $800 million

IOC President Thomas Bach said on Thursday that the IOC will bear costs of up to EUR 800 million to organise the postponed Tokyo 2020 Olympics, which are now to take place next year.

"We expect to bear up to $800 million of cost and responsibilities in organising the Tokyo 2020 postponed Games," said Bach at the IOC Executive Board meeting at a conference call.

He said that $650 million would be spent on the Games next year and $150 million would be spent supporting international federations and national Olympic committees.

Bach's figure does not include any costs to organisers of Tokyo Games, and the Japanese government is obliged to face the 12-month delay of the largest multi-sport event in the world.

Bach refused to speculate about a possible new delay if next year the virus remains a major concern.

"We are working with full commitment to Tokyo 2020 success in 2021 and to ensure that all participants enjoy these Games in a secure environment," he stated.

"We are one year and two months from the start of these postponed Olympics. We should not fuel any future development speculation.

About four million people have been infected and around 300,000 have died of the disease worldwide.

More than 90 vaccines with eight in the clinical trial stage are currently being developed globally. However, experts say the process can take years and can not happen at all.

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