LAUSANNE: Thomas Bach, president of the International Olympic Committee, has clarified confirmed that the organisation will contribute $800m to the costs incurred by Japan after the 12-month postponement of the 2020 Games.
Initially sources within the IOC has suggested that the entire financial weight would fall on the host city and government after the joint decision in March to delay for a year.
Bach told a media teleconference: “We anticipate we will have to bear costs of up to $800m for our part and responsibilities in the organisation of the postponed Games.”
Some $650m would be destined for the reorganisation and $150m as an advanced for cash-strapped international federations and national Olympic committees which had been pushed to the brink of collapse by the loss of the predictable four-yearly handout.
Bach added: “We are discussing with international federations the consequences of the postponement… and the postponement of the share of the international federations from the commercial success of the Games.
“We are very well advanced in these discussions and we will continue to assist.
“We are assessing and continue to discuss jointly the respective impact caused by the postponement. What you have seen today, this envelope of $800 million, is the assessment for the IOC side.
“This discussion with the organising committee will continue in the way we have agreed.”
The IOC last month was forced to remove a comment from its website that referred to Japanese Prime Minister Shinzo Abe when discussing costs for the postponement, following objections from the Games organisers.
A priority for Tokyo 2020 was to secure the Olympic venues, including the athletes’ village and the media centres, for another year.
Bach declined to speculate on a possible new delay to the Games if the pandemic were still a major concern next year.