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Tokyo 2020 postponement to cost IOC US$800m

Getty ImagesThe International Olympic Committee (IOC) expects the postponement of the Tokyo 2020 Olympic Games to cost the organisation US$800 million. Addressing the media on 14th May, IOC president Thomas Bach revealed the Olympic body had created a funding package that will see US$650 million go towards the organisation of next year's Games and US$150 million on supporting international federations (IFs) and national Olympic committees (NOCs). Bach has said previously that the postponement of Tokyo 2020 will cost the IOC "several hundred million dollars", but this is the first time he has publicly referenced a specific figure.   “We anticipate that we will have to bear costs of up to US$800 million for our part of the responsibilities for the organisation of the Games," he said.  “This amount will be covered by the IOC itself, including any funding we may have to refer to from the Olympic Foundation. ”The figure announced by Bach does not include the additional costs that will be incurred by host nation Japan, which had already spent US$12.

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