Pinax News
  • Home
  • Ghana
    • Showbiz
    • Lifestyle
    • Politics
  • Nigeria
    • Entertainment
    • lifestyles
    • politics
  • International
  • Sports
  • Forums
    • Profile
    • How to
    • What Is
  • Music
  • Business
    • Jobs/Vacancies/Admissions
    • Advertisement
  • Home
Pinax News
  • Home
  • Ghana
    • Showbiz
    • Lifestyle
    • Politics
  • Nigeria
    • Entertainment
    • lifestyles
    • politics
  • International
  • Sports
  • Forums
    • Profile
    • How to
    • What Is
  • Music
  • Business
    • Jobs/Vacancies/Admissions
    • Advertisement
  • Sports

rescheduling Of Tokyo 2020 Olympic Games To Cost Japan $2.8bn

  • December 4, 2020
  • Gidions Moldam
Organising committee of the Tokyo Olympic Games Disclosed that the postponement of the Games until next year due to the COVID-19 pandemic will cost Japanese organisers an additional 294bn yen ($2.8bn).

Organisers have been assessing the financial repercussions of the delay since the Japanese government and International Olympic Committee (IOC) decided in March to suspend the Games until 2021.

The organisers said the Tokyo metropolitan government is expected to pay 120bn yen, the organising committee 103 billion yen and the Japanese government 71bn yen.

The IOC has previously said it will contribute $650m towards covering postponement costs. This is separate from the costs announced by Japanese organisers on Friday.

Tokyo 2020 CEO Toshiro Muto stated, “Tokyo’s costs are Tokyo’s costs” .

“Within this revenue we have additional sponsorship that we have requested from partners and we also have insurance.”

Tokyo 2020 is also falling back on a contingency fund of 27bn yen detailed in last year’s budget to cover costs. The last official budget given by the organising committee in December 2019, months before the Games were postponed, was $12.6bn.

Tokyo 2020 President Yoshiro Mori added that the IOC had agreed to waive any additional royalties accrued by new sponsorship deals secured by the organising committee.

“I had a video conference last night with IOC President Bach,” said Mori.

“President Bach expressed his strong determination that the IOC and us should work as one team and cooperate to ensure the success of the Games,” he added.

The Tokyo Olympics and Paralympics Games are now scheduled to be held from July 23 to August 8 and August 24 to September 5 next year.

Comments

0 comments

Related Topics
  • #Tokyo
  • japan
  • Olympic
  • Toshiro Muto
Gidions Moldam

Previous Article
  • Politics

Ghana Election 2020: Dumelo’s Wife Assures Him of Winning Amidst Rejection By Colleagues

  • December 4, 2020
  • Elizabeth Danso
View Post
Next Article
  • Showbiz

Rev. Obofour And Wife Spotted Chopping Love In A Yacht In Dubai

  • December 4, 2020
  • Elizabeth Danso
View Post
You May Also Like
View Post
  • Sports

Photos: Ex-Kotoko Defender ‘Augustine Sefah’ Allegedly Ordained As A Fetish Priest In His Home Town

  • Francis Brownson
  • January 15, 2021
View Post
  • Sports

Didier Drogba Divorces Wife After 20 Years of Marriage

  • Elizabeth Danso
  • January 14, 2021
View Post
  • Sports

Sad News: Owner Of Ghana Premier League Club, WAFA Reportedly Dies

  • Francis Brownson
  • January 13, 2021
View Post
  • Sports

Asamoah Gyan Shows Off His Look-alike Son As He Marks His Birthday

  • Elizabeth Danso
  • January 12, 2021
View Post
  • Sports

Just In: 7 Kotoko Players Tests Positive For Codvid-19

  • Elizabeth Danso
  • January 6, 2021
View Post
  • Sports

Thank You Ghana!! Emmanuel Agyeman Badu Officially Retires From International Football

  • Francis Brownson
  • January 1, 2021
View Post
  • Sports

Premier League Clubs To Go For Two Weeks COVID-19 Break

  • Gidions Moldam
  • December 30, 2020
View Post
  • Sports

Cristiano Ronaldo Wins Globe Soccer Player Of The Century

  • Gidions Moldam
  • December 28, 2020
Featured Posts
  • 1
    Whit Woman cries like a baby after she got scammed
    • January 16, 2021
  • 2
    “You knew I had a serious Boyfriend but you were chasing me and wanted to chop me for free” Mzbel blast Kwame A Plus
    • January 16, 2021
  • 3
    Ghanaian Actor, Ras Nene explains why he uses the name Asamoah Gyan in his videos when “chasing” girls
    • January 16, 2021
  • 4
    Beef Alert: Shatta Wale brutally insults Burna Boy for spreading false rumors about him
    • January 16, 2021
  • 5
    Video: Nana Ama Mcbrown in the News again after kissing Baby Maxin on the lips
    • January 16, 2021
Recent Posts
  • Bulldog thanks John Mahama and NDC executives after he was granted Bail
    • January 16, 2021
  • Sad!!! 22 year old lady commits suicide after a Pastor accused her of being a witch and behind the poverty in the Family
    • January 16, 2021
  • Photo of Wendy Shay looking very skinny with a lot of Piercing trends online
    • January 16, 2021
Categories
  • Advertisement (2)
  • Aenean Eleifend (10)
  • Aliquam (3)
  • Entertainment (1,130)
  • Etiam (10)
  • Forums (3)
  • Ghana (4,211)
  • How to (4)
  • International (2,497)
  • Just In (257)
  • Lifestyle (114)
  • Lifestyle (10)
  • lifestyles (161)
  • Maecenas (10)
  • Metus Vidi (3)
  • Movies (8)
  • Music (12)
  • Nigeria (971)
  • NSFW (1)
  • politics (428)
  • Politics (802)
  • Profile (12)
  • Rhoncus (4)
  • Showbiz (10,190)
  • Sports (405)
  • Vulputate (10)
  • XSport (9)
Pinax News
Latest News, Showbiz, Politics, Lifestyle, Sports.

Input your search keywords and press Enter.