Covid-19: IOC to pay $800m for Olympic Games Tokyo, including $650m for the postponed Games in 2021

"The International Olympic Committee (IOC) anticipates that it will have to bear costs of up to $800m for its part of the responsibilities for the organisation of the Olympic Games Tokyo 2020, its own extended operations and the support for the wider Olympic Movement. This amount will be covered by the IOC itself, including any funding from the Olympic Foundation," announced the IOC on 14/05/2020.

The Tokyo Olympic Games were orignally scheduled from Friday 24/07 to Sunday 09/08/2020. They were then rescheduled from Friday 23/07 to Sunday 08/08/2021 by the IOC, the Organising Committee for the Olympic Games and the Japanese authorities on 30/03/2020.

"This number includes the cost for the organisation of the postponed Games of up to $650m (€600m) for the IOC, and an aid package of up to $150m (€138m) for the Olympic Movement, including the International Federations, the National Olympic Committees and the IOC-recognised organisations, to enable them to continue their sports, their activities and their support to their athletes. Today, the IOC executive board approved this financial…