{"id":126212,"date":"2020-12-04T15:54:14","date_gmt":"2020-12-04T12:54:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/delaying-tokyo-olympics-will-cost-up-to-2-8-billion\/"},"modified":"2020-12-04T15:54:14","modified_gmt":"2020-12-04T12:54:14","slug":"delaying-tokyo-olympics-will-cost-up-to-2-8-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/delaying-tokyo-olympics-will-cost-up-to-2-8-billion\/","title":{"rendered":"#Delaying Tokyo Olympics will cost up to $2.8 billion"},"content":{"rendered":"

“#Delaying Tokyo Olympics will cost up to $2.8 billion<\/strong>”<\/p>\n

\n

Postponing the Tokyo Olympics to next year because of the coronavirus pandemic will cost organizers and Japanese officials up to $2.8 billion, figures released Friday show.<\/p>\n

The Tokyo Organizing Committee revealed the staggering estimate<\/a> after spending months examining the financial impact of the unprecedented March decision to delay the summer game<\/a>s, which are slated to open on July 23, 2021.<\/p>\n

Tokyo\u2019s metropolitan government and Japan\u2019s national government will pick up about 65 percent of the tab, while the rest will be covered by the privately funded organizing committee.<\/p>\n

The extra operational costs stemming from the delay add up to 171 billion Japanese yen, or about $1.6 billion. Tokyo officials and the organizing committee will each cover a roughly equal share of that bill totaling about $1.5 billion, with Japan\u2019s government picking up the rest.<\/p>\n

The organizing committee said it could add a roughly $260 million contingency fund to help cover extra costs that come up.<\/p>\n

Organizers also plan to implement coronavirus safety measures that will cost 96 billion yen, or roughly $923 million, which will be paid for entirely by the governments.<\/p>\n

The Tokyo games are expected to be the most expensive summer Olympics<\/a> on record, according to a recent University of Oxford study. The estimated budget before the delay was $12.6 billion \u2014 far larger than the $7.3 billion put forward in Tokyo\u2019s bid to host the games \u2014 with public funds expected to cover all but $5.6 billion of that.<\/p>\n

The organizing committee said<\/a> it will continue working with Japanese officials, the International Olympic Committee and the International Paralympic Committee \u201cto prepare for a safe and secure games while aiming at all possible optimization and streamlining measures to reduce cost.\u201d<\/p>\n

\"Tokyo
Tokyo 2020 President Yoshiro Mori, left, and CEO Toshiro Muto speak at a news<\/a> conference today.<\/figcaption>
Kazuhiro Nogi\/Pool Photo via AP<\/span><\/figcaption><\/figure>\n

The IOC has said it would contribute $650 million<\/a> to help cover the postponement costs and has also agreed to waive extra royalties accrued by sponsorship deals that the organizing committee secures. <\/p>\n

IOC president Thomas Bach \u201cexpressed his strong determination that the IOC and us should work as one team and cooperate to ensure the success of the games,\u201d Tokyo 2020 president Yoshiro Mori said.<\/p>\n

With Post wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Delaying Tokyo Olympics will cost up to $2.8 billion” Postponing the Tokyo Olympics to next year because of the coronavirus pandemic will cost organizers and Japanese officials up to $2.8 billion, figures released Friday show. The Tokyo Organizing Committee revealed the staggering estimate after spending months examining the financial impact of the unprecedented March decision…<\/p>\n","protected":false},"author":1,"featured_media":126213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/201204-tokyo-olympics-covid.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[82641,70888,1545,70889,24564,82662],"class_list":["post-126212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-4-20","tag-2020-olympics","tag-coronavirus","tag-olympics","tag-tokyo","tag-tokyo-games"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=126212"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/126213"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=126212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=126212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=126212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}