How will the IOC and Japan handle the increased costs of the 2021 Games?

Question

Accepted Answer

Determining Responsibility for Additional Costs Poses a Significant Hurdle

The precise method by which the International Olympic Committee (IOC) and Japan will handle the increased costs stemming from the postponement of the Tokyo 2020 Games to 2021 remains a significant challenge, with no definitive cost-sharing agreement publicly detailed. Organisers have acknowledged that the additional expenses incurred due to the delay are unavoidable, and the process of allocating these financial burdens is expected to be complex.
Deliberations Over Cost Allocation are Underway

Tokyo 2020 organising committee president Yoshiro Mori has characterised the decision-making process for who will ultimately bear the additional costs as a "major challenge." This statement underscores the complexity and potential difficulty in reaching a consensus on financial responsibilities between the various stakeholders involved in staging the Games.
Japan's Substantial Pre-Games Investment

Prior to the decision to postpone, Japan had already invested approximately US$12 billion in preparation for the Tokyo 2020 Olympic Games. This significant financial outlay predates the additional expenses that will inevitably arise from rescheduling the event for 2021.
Taskforce Established to Address Postponement Issues

In response to the postponement, the Tokyo 2020 organising committee has established a dedicated taskforce. This group is specifically tasked with addressing the myriad issues that have arisen as a direct consequence of the delay, including the critical tasks of reviewing potential new dates and securing the necessary venues for the rescheduled event.

Reading history

Hide →

This history is cleared when the page is closed.

How will the IOC and Japan handle the increased costs of the 2021 Games?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends