Olympic Tokyo
Sports

Tokyo Olympics postponement to cost IOC hundreds of millions of dollars, says President

392

The COVID-19 forced postponement of the Olympic Games in Tokyo to 2021 will cost the International Olympic Committee (IOC) “several hundred million dollars”, the President, Thomas Bach, said on Wednesday.

“We already know that we have to shoulder several hundred million US dollars of postponement costs,” the German wrote in a letter to the Olympic movement.

The IOC which has approximately $1 billion (926 million euros) in reserves, took the historic decision to postpone the Games scheduled to open on July 24 until July 23 to August 8, 2021.

Bach warned that while the IOC would honour its financial obligations to Tokyo, it would probably have to make cuts.

“We also need to look into and review all the services that we provide for these postponed Games.

“The IOC will continue to be responsible for its share of the operational burden and its share of the costs for these postponed Games,” the IOC boss said.

A task force, which brings together the IOC and various partners, including COJO, “has established the priorities and management strategies to make these postponed Olympic Games feasible and successful”, Bach said.

These include creating “a safe environment with regard to health for all participants”.

“At this moment, nobody knows what the realities of the post-coronavirus world will look like,” he said. “What is clear, however, is that probably none of us will be able to sustain every single initiative or event that we were planning before this crisis hit.”

He added that the IOC should also view the crisis as an opportunity.

“We can fairly assume that, in the post-coronavirus society, public health will play a much more important role. Sport and physical activity make a great contribution to health,” he wrote.

Bach also said the Olympic movement should consider its relationship with esports in light of social distancing.

“Whilst maintaining our principles by respecting the red line, with regard to the Olympic values, we encourage all our stakeholders even more urgently to ‘consider how to govern electronic and virtual forms of their sport and explore opportunities with game publishers’,” he said.

If the coronavirus pandemic is not brought under control within a year, the Games cannot be postponed again and will be cancelled, the head of the organising committee (COJO) Yoshiro Mori warned on Tuesday.

Leave a comment

Related Articles

Olopade assumes office as NSC DG, promises new lease of life for Nigerian sports

Bukola Olopade had assumed office as the Director General of the resuscitated...

Nigeria’s Super Falcons Ajibade, Nnadozie, Nominated for 2024 CAF Women’s Player of the Year

The Confederation of African Football (CAF) has announced the nominees for the...

AFCON Qualifier: Nigeria’s Super Eagles Suffer Shocking 2-1 Loss to Rwanda

Nigeria’s Super Eagles concluded their Africa Cup of Nations Group D qualifiers...

Gusau Hails Edo Queens CAF Women’s Champions League Semifinal Feat

Nigeria Football Federation (NFF) President Ibrahim Musa Gusau has praised Edo Queens’...

Exclusive: Super Eagles’ Road to Morocco 2025 was Turbulent—Team Coordinator

Nigeria’s Super Eagles secured their spot in the 2025 African Cup of...

Just in: Nigeria qualify for AFCON 2025

The Super Eagles have joined 13 other nations to book their spots...

South African FA Boss Jordaan Arrested, Charged with Fraud

Danny Jordaan, the president of the South African Football Association (SAFA), has...

Super Eagles Eye AFCON Finals Ticket Against Benin Republic

Nigeria’s Super Eagles are poised to secure their spot in the 2025...

FIFA announces draw date for expanded Club World Cup

FIFA has revealed that the draws for the newly expanded Club World...

Super Eagles Land in Abidjan, Gear Up for Benin Republic Clash

The Nigerian national football team, the Super Eagles, has arrived in Abidjan,...

Exclusive: Nigerian heptathlon star, Oluwakemi Ruth Francis, slams AFN, its poor welfare

Nigerian heptathlete Oluwakemi Ruth Francis has opened up about her tumultuous experience...

Manchester United legend, Ruud Van Nistelrooy, departs club after interim stint

Manchester United has confirmed the departure of Ruud Van Nistelrooy, the club...

Osimhen’s Brace Powers Galatasaray to 3-2 Win Over Samsunspor

Nigerian striker Victor Osimhen led Galatasaray to a thrilling 3-2 victory over...

Brighton stun Manchester City with 2-1 comeback win

Brighton & Hove Albion pulled off a stunning 2-1 comeback win over...

Chelsea smashes UEFA Conference League record with 8-0 thrashing of Noah

Chelsea FC made history in the UEFA Conference League, securing a staggering...

Arteta Gives Rice Injury Boost Ahead of Chelsea Clash

Midfielder Declan Rice will have every chance to demonstrate his fitness before...

Arsenal suffer controversial Champions League defeat to Inter Milan

Arsenal’s Champions League campaign suffered a setback as they fell to a...

Lobi Stars unveil Finnish tactician, Mika Lönnström, as new head coach

Lobi Stars Football Club of Makurdi has officially unveiled Mika Lönnström, a...

NFF in talks with Dangote, BUA for foreign coach payment

In a bid to address the long-standing issue of payment for foreign...