International Olympic Committee President Thomas Bach revealed that the IOC face a bill of up to $800 million for the postponed Tokyo Games to address the impact of the coronavirus.
It is unclear how much the additional expenses will total. But some estimates show Japan could face an amount to several billion dollars.
At the Executive Board online meeting Thursday, Bach said the IOC will set aside up to 650 million dollars for the Tokyo Olympics and up to 150 million dollars to support international federations, national Olympic committees, and other IOC-recognized organizations.
Regarding additional expenses for the postponed Tokyo Games, Bach said, “We are leaving no stone unturned, to reduce the cost while maintaining the spirit of the Games and the quality of the sports competition.”
The Tokyo Olympics will run for 17 days from July 23, 2021. The Paralympics will continue for 13 days from August 24.