Road To The Olympic Games

Summer Sports

Cost of delayed Tokyo Olympics reportedly pegged at just under $2 billion US

The cost of the one-year postponement of the Tokyo Olympics is estimated to be just under $2 billion US. While the official cost of holding the event is $12.6 billion, a government audit last year said it was probably twice that amount.

International Olympic Committee has said it would chip in about $650M

The cost of the postponed Tokyo Olympics has reportedly reached closed to $2 million US. An exhibition gymnastics meet was held in the city in early November before several thousand fans with 22 athletes participating from Russia, China and the United States. (Toru Hanai/Getty Images)

The cost of the one-year postponement of the Tokyo Olympics is estimated to be just under $2 billion US, or about 200 billion yen.

Japan's Kyodo news agency and the Yomiuri newspaper both reported the figure on Sunday citing unnamed sources close to games organizers.

The reported cost of the delay because of the COVID-19 pandemic is in line with repeated estimates over the last several months. The organizers, the Tokyo metro government and the Japanese national government are expected to report next month how the costs will be shared.

The International Olympic Committee has said it would chip in about $650 million to cover some of the costs of the delay but has offered few public details.

Tokyo is becoming very expensive.

The official cost of putting on the Tokyo Olympics is $12.6 billion. However, a government audit last year said it was probably twice that much. All but $5.6 billion is public money.

Tokyo said the games would cost $7.3 billion when it won the bid in 2013.

Olympics, Paralympics involve over 15,000 athletes

The $2 billion only adds to the total. A University of Oxford study published early this year — calculated before the postponement — said Tokyo was the most expensive Summer Olympics on record and the metre is still running.

The IOC and organizers have been campaigning over the last several months to convince sponsors and a skeptical Japanese public that the Olympics can be held safely in the middle of a pandemic.

The Olympics are to open on July 23, 2021, followed by the Paralympics on Aug. 24. They involve 15,400 athletes and tens of thousands of officials, judges, staff, VIPs, sponsors as well as media and broadcasters.

IOC president Thomas Bach, who was in Tokyo earlier this month, has said a vaccine and improved rapid testing would help pull off the Olympics. But he cautioned they are not "silver bullets."

Athletes are expected to be closely monitored, held in quarantine-like conditions, discouraged from sightseeing and encouraged to leave as soon as they finish competing.

Some fans are expected at the events, but it is unclear if many fans from abroad will be allowed to attend.

Japan has controlled COVID-19 better than most countries but has seen a spike over the last several weeks in Tokyo and elsewhere. Tokyo set a one-day record for new infections on Friday with 570. About 2,000 deaths in Japan have been attributed to COVID-19.

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