The cost of the postponed Tokyo Olympics could reach about $2.8 billion, according to figures released Friday by the Tokyo organizing committee, the Tokyo city government and Japan’s national government.
About two-thirds of the added costs are being picked up by the two government entities, with the other one-third going to the privately funded organizing committee.
The operational cost for the delay is listed at 171 billion yen, or about $1.64 billion at the present exchange rate. The organizing committee and the Tokyo government share equally in covering the expenses. The national government will pick up a small portion.
The cost for coronavirus countermeasures is 96 billion yen (about $920 million). This is being covered solely by the governments.
Tokyo organizers also said they could add 27 billion yen (about $260 million) from a contingency fund to help cover added costs.
Tokyo costs are ballooning and could reinforce skepticism about holding the Olympics in the middle of a pandemic. Recent polls show the public is divided on the issue of the Olympics, and allowing fans from abroad to enter.
Prior to the postponement, Japan said the Olympics would cost $12.6 billion. But a government audit last year said it was likely twice that much. All but $5.6 billion is public money, before any delay costs.
Tokyo said the Olympics would cost $7.3 billion overall when it won the bid in 2013. And a University of Oxford study two months ago said the Tokyo Games are the most expensive Summer Olympics on record.
More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports
Register for free to continue reading
Registration is a free and easy way to support our truly independent journalism
By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists
Already have an account? sign in