Japanese organisers say 2020 Games delay to cost them $2.8 billion
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
MONDAY, MAY 16, 2022
MONDAY, MAY 16, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Japanese organisers say 2020 Games delay to cost them $2.8 billion

Global Economy

Reuters
04 December, 2020, 04:50 pm
Last modified: 04 December, 2020, 04:52 pm

Related News

  • Tokyo Olympics in the eyes of an expatriate Bangladeshi photographer
  • Tunisia, Japan celebrate unexpected gold, Australia smash world record
  • Olympics Swimming: The Russians are back - and hunting gold
  • Tokyo Olympics: Ruman, Diya eliminated from recurve mixed event
  • China's Yang wins battle of nerves to claim Tokyo's first gold

Japanese organisers say 2020 Games delay to cost them $2.8 billion

Organisers have been assessing the financial impact of the delay since the Japanese government and International Olympic Committee decided in March to postpone the Games until 2021

Reuters
04 December, 2020, 04:50 pm
Last modified: 04 December, 2020, 04:52 pm
A person taking picture of Olympics logo. Photo: Reuters.
A person taking picture of Olympics logo. Photo: Reuters.

The postponement of the Tokyo Games until next year because of the novel coronavirus pandemic will cost Japanese organisers an additional 294 billion yen ($2.8 billion), the organising committee said on Friday.

Organisers have been assessing the financial impact of the delay since the Japanese government and International Olympic Committee decided in March to postpone the Games until 2021.

Tokyo metropolitan government is expected to pay 120 billion yen, the organising committee 103 billion yen and the Japanese government 71 billion yen, organisers said.

The IOC have previously said they will contribute $650 million to covering postponement costs. This is separate from the costs announced by Japanese organisers on Friday.

Tokyo 2020 CEO Toshiro Muto said that their share of the costs would come from a contingency fund detailed in last year's budget, additional sponsorship and insurance.

The last official budget given by the organising committee in December 2019, months before the Games were postponed, was $12.6 billion.

Tokyo 2020 President Yoshiro Mori added that the IOC had agreed to waive any additional royalties accrued by new sponsorship deals secured by the organising committee.

($1 = 103.9200 yen)

Top News / World+Biz

tokyo olympics 2020

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • CPD for monthly Tk1,000 allowance for unemployed youths 
    CPD for monthly Tk1,000 allowance for unemployed youths 
  • Photo: PID
    Make best use of funds in effective implementation of SDGs: PM Hasina
  • Commerce Minister Tipu Munshi. Photo: Collected
    Govt plans to import wheat from 5 countries: Tipu Munshi

MOST VIEWED

  • Labourers wearing masks shift wheat crop from a trolley to remove dust from the crop at a wholesale grain market during an extended nationwide lockdown to slow the spreading of coronavirus disease (COVID-19) in Chandigarh, India April 17, 2020. REUTERS/Ajay Verma/Files
    India wheat export curb to be less explosive than prices suggest
  • A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. REUTERS/Khalid Al-Mousily/File Photo
    Price protests turn political in Iran as rallies spread
  • A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Russian Trading System (RTS) Index, Japan's Nikkei index and the Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 25, 2022. REUTERS/Kim Kyung-Hoon
    Stocks, oil slip as dire China data feed recession fears
  • FILE PHOTO: Workers assemble a Ford truck at the new Louisville Ford truck plant in Louisville, Kentucky, US September 30, 2016. REUTERS/Bryan Woolston
    Surging natural gas prices squeeze US industrial sector
  • Belarusian Prime Minister Roman Golovchenko attends a meeting with Russian Prime Minister Mikhail Mishustin in Moscow, Russia March 14, 2022. Sputnik/Alexander Astafyev/Pool via REUTERS
    Western sanctions block $16-$18b worth of Belarusian exports to EU, US
  • Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File Photo
    China's economy cools sharply in April as lockdowns bite

Related News

  • Tokyo Olympics in the eyes of an expatriate Bangladeshi photographer
  • Tunisia, Japan celebrate unexpected gold, Australia smash world record
  • Olympics Swimming: The Russians are back - and hunting gold
  • Tokyo Olympics: Ruman, Diya eliminated from recurve mixed event
  • China's Yang wins battle of nerves to claim Tokyo's first gold

Features

Bitcoin, by far the largest cryptocurrency, is a terrible substitute for government-issued money. Photo: Reuters

Crypto’s wild week offers a much-needed warning

38m | Panorama
Karst Stone Paper Journal: Write on indestructible stone paper

Karst Stone Paper Journal: Write on indestructible stone paper

1h | Brands
Pesky bugs do not stand a chance against this automatic indoor insect trap

Pesky bugs do not stand a chance against this automatic indoor insect trap

1h | Brands
Wazeenah: Turning furniture into a canvas

Wazeenah: Turning furniture into a canvas

2h | Brands

More Videos from TBS

How can you become proficient as a new team leader?

4h | Videos
Future of newborn baby genome sequencing: Good or Bad?

Future of newborn baby genome sequencing: Good or Bad?

4h | Videos
What Europe-based Fair Wear says about fair price of Bangladeshi cloth

What Europe-based Fair Wear says about fair price of Bangladeshi cloth

17h | Videos
Microplastics found in 5 local sugar brands

Microplastics found in 5 local sugar brands

17h | Videos

Most Read

1
The hostile welcome to Bangladesh
Bangladesh

The hostile welcome to Bangladesh

2
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

3
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

4
Union Capital asked to return Tk100cr FDR to BATBC 
Banking

Union Capital asked to return Tk100cr FDR to BATBC 

5
Bangladesh gas fields burnt $3m worth of gas in the air in 2021
Energy

Bangladesh gas fields burnt $3m worth of gas in the air in 2021

6
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab