Auto Shows Olympia in Tokyo will be almost two billion euros more expensive

21:45  04 december  2020
21:45  04 december  2020 Source:   pressfrom.com

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That would make Tokyo 2020 the second most - expensive Games in history, but still falling way behind the 2014 Sochi Winter Olympics which cost a staggering .9bn (£18.6bn). The Olympic torch relay in Greece was cancelled on Friday March 13 - just a day after the flame was lit in Olympia .

The real reason to suspect Tokyo 's Olympic budget, however, is because Olympic Games always go over budget. These data suggest that this guarantee is akin to writing a blank cheque for a purchase, with the certainty that the cost will be more than what has been quoted.

The postponement of the summer games by one year will cost 1.24 billion euros, the additional costs for the planned measures in the fight against the corona pandemic for the games are 741,800 euros. The organizers announced on Friday.

Nicht das beste Licht: Olympia in Tokio wird noch teurer. © imago images Not the best light: Olympia in Tokyo will be even more expensive.

The relocation is so expensive because, among other things, halls and stadiums as well as transport options have to be re-booked, and the postponement also increases personnel costs. Measures taken to fight the pandemic include tests, disinfection equipment, additional staff, and possibly the use of vaccines.

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Olympic chiefs finally bowed to pressure on Tuesday and confirmed that the Tokyo Games will be postponed until next year to 'protect lives'. They will still be called Tokyo 2020 despite being held next year, with a likely new start date of July Most British athletes reacted positively to the decision.

"The Olympics would be much more valuable than any Olympics in the past if we could go ahead with it after winning this battle. There are also domestic sponsorship deals to consider (roughly €3 billion ) while national and international TV rights packages are also significant for both parties.

The new editions add to the total budget of the games, which was stated at 10.72 billion euros (13 billion dollars) last year. That should continue to depress the Olympic mood in Japan. Surveys recently showed that the majority of the Japanese population is in favor of relocating or even canceling the games.

The games are to be significantly cheaper four years later in Paris. The organizers announced on Friday that the budget would be increased slightly from 3.8 to 3.9 billion euros. Tokyo 2020 President Yoshiro Mori stated that the new budget had been calculated very carefully. "I hope the Japanese people accept the plan," said Mori. "We have to win the understanding and compassion of the people in Tokyo and across the country," said Tokyo Governor Yuriko Koike.

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The most of expensive Olympics in history: From Athens 2004 - which some say contributed to Greece's financial Everything you need to know for the Summer Olympic Games in Tokyo . And two years before that, the summer Olympics in London racked up a huge .9 billion (£11.6 billion )

Tokyo chief admits 2020 Olympic Games could face TWO -YEAR postponement due to coronavirus A Tokyo chief said two -year postponement is more likely than a full cancellation IOC and Tokyo 2020 officials have repeatedly insisted the Games will go ahead March 17 that all boxing events under their jurisdiction for March will be postponed due to the

The escalating costs had caused much criticism in Japan. An audit report by the Japanese Court of Auditors last year found that the national government spent almost ten times the original budget between 2013 and 2018. Tokyo 2020 replied that the estimates included investments that were not directly related to the games.

reimbursed 18 percent of tickets sold in Japan

How the additional costs will be shared between the Tokyo 2020 Organizing Committee, Tokyo and the Japanese government remained open. According to reports from Japanese media, the organizers of the games are expected to assume that the government will take over most of the stake. As Tokyo 2020 also announced, 18 percent of the Olympic tickets sold in Japan for the summer of 2020 have so far been reimbursed. These are 810,000 of the total of 4.45 million tickets sold in Japan.

It was only in October 2020 that Tokyo presented a package of measures aimed at reducing the budget by 240 million euros. Among other things, there should be fewer personnel costs, fewer expenses for celebrations and less decoration of the sports facilities. The Olympic Games in Tokyo in March were postponed to the coming year due to the corona pandemic. They are now scheduled to begin on July 23, 2021, with the Paralympics scheduled to start on August 24.

Read also: Bach only candidate for IOC presidential election

The "Bid for the Louvre" auction totaled more than 2 million euros .
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