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Tokyo Olympics Postponement Will Cost IOC ‘Several Hundred Million Dollars’ – Bach

 

The postponement to 2021 of the Olympic Video games in Tokyo due to the coronavirus pandemic will price the Worldwide Olympic Committee (IOC) “several hundred million dollars”, its president Thomas Bach stated 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 motion, warning that, whereas the IOC would honour its monetary obligations to Tokyo, it might most likely need to make cuts.

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

“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, which has roughly $1 billion (926 million euros) in reserves, took the historic resolution to postpone the Video games, scheduled to open on July 24, till July 23 to August eight, 2021.

If the coronavirus pandemic will not be introduced underneath management inside a 12 months, the Video games can’t be postponed once more and can be cancelled, the top of the organising committee (COJO) Yoshiro Mori warned on Tuesday.

A activity drive, which brings collectively the IOC and varied companions, together with COJO, “has established the priorities and management strategies to make these postponed Olympic Games feasible and successful”, Bach stated.

These embody 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 stated. “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 also needs to view the disaster as a chance.

“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 additionally stated the Olympic motion ought to contemplate its relationship with esports in gentle 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 stated.

AFP

 

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