Olympic Tokyo
Sports

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

213

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

Investing in NPFL: Sports Minister Enoh woos Tony Elumelu, Abdul Samad Rabiu, others

The drive to bolster up football in Nigeria has gained significant momentum,...

NFF debunks appointing Amunike as Super Eagles coach

The Nigerian Football Federation (NFF) has described as fake news that it...

FA Cup: Manchester United survive late scare, to qualify for record-breaking 22nd final

Manchester United, which narrowly defeated Conventry City on penalties, will face Manchester...

Manchester City edge out wasteful Chelsea in FA Cup

Manchester City’s FA Cup title defence has taken them to another final...

Sports Minister signs three groundbreaking MoUs to bolster sports development, funding

Driven by his unwavering resolve to boost sports development in line with...

Sports Minister affirms Nigeria’s readiness for Paris 2024 Olympics

The Minister of Sports Development, Senator John Enoh, has restated the ministry’s...

19th NOGIG Games: Over 1,500 participants are expected to feature in 13 events

More than 1,500 participants will take part in the 19th edition of...

Champions League: Barcelona self-destruct at Nou Camp, knocked out by PSG

Barcelona implode at Nou Camp, as Paris Saint-Germain denies the Blaugrana a...

After 119 years, Leverkusen are Champions of Germany

For the first time in the club’s 119-year existence, Bayer 04 Leverkusen...

I joined Super Falcons by chance – sensational star Michelle Alozie

Super Falcons sensational star Michelle Alozie has disclosed that she became part...

NFF confirms Manu Garba as U-17 coach

The Nigeria Football Federation (NFF) has appointed former U-17 World Cup winner...

Arsenal vs. Bayern Munich: Breathless game at the Emirates ends 2-2

Dramatic Champions League night at the Emirates ends in a draw as...

Sports Minister salutes Super Falcons’ doggedness as 16-year-old jinx is broken

The Minister of Sports Development, Senator John Enoh, has applauded the Super...

Just in: Paris 2024: Super Falcons break 16-year-old jinx, qualify for the Olympics

After 16 years, the Super Falcons qualified for the Paris 2024 Olympics...

Billionaire philanthropist Tony Elumelu mulls buying NPFL team

As part of his corporate social responsibility, billionaire banker and philanthropist Tony...

Liverpool’s title ambition suffers huge dent with 2-2 draw at Old Trafford

With seven games to go in Jurgen Klopp’s era in the Premier...

Paris 2024: Sports Minister urges Super Falcons to be resilient in Pretoria second leg encounter

As the Super Falcons gear up for the crucial second leg of...

Sports Minister collaborates with NNPCL to promote national health, wellness

Sen. John Enoh, the Minister of Sports Development, says increased involvement in...

We will bounce back in Pretoria, says Bayana coach Desiree Ellis

After their first-leg defeat by the Super Falcons in Abuja on Friday,...