Tokyo Olympics 2021 to cost IOC additional $800 million: Thomas Bach

International Olympic Committee (IOC) President Thomas Bach said on Thursday that committee is willing to bear an ditional cost of upto $800 million in order to successfully conduct Tokyo Olympics 2021. Initially scheduled for 2020, Olympics were postponed due to ongoing coronavirus pandemic. 

"We anticipate that we will have to bear costs of up to $800 million for our part of responsibility for organisation of Games," Thomas Bach said during a conference call after IOC executives meeting. German said a funding pack of $650 million will be allotted for Tokyo Olympics 2021, while an ditional $150 million will be used for supporting international federations and national Olympic committees.

Also Re | Tokyo Olympics 2021 'difficult' If Pandemic t Contained: Japan PM Shinzo Abe

Tokyo Olympics cost: Tokyo Olympics 2021 to cost up to $800 million more

Thomas Bach's estimate cost is only cost incurred by IOC, which does t include cost Japanese government and organisers of Tokyo Olympics will have to incur due to postponement of event. As per latest reports, Tokyo Olympics 2020 was due to cost around $12.6 billion in total. It included cost incurred by IOC, Japanese government and organisers. 

Also Re | Tokyo Olympics 2021 Will "definitely" Be Held Next Year: IOC Member Batra

Several reports suggested IOC will be forced to abandon  Tokyo Olympics 2021 altoger if COVID-19 pandemic is t contained by start of 2021. While Thomas Bach did t indulge in speculation, IOC President said, "We have a task force to ensure organisation of Games in a safe environment. vice of World Health Organisation (WHO) plays an important role. All this would greatly depend on developments in months to come."

Bach ted said taskforce is constantly in discussions with medical and health experts in regards to any development amid crisis. German insisted 14 months is still a long time and that it is "too early to draw any conclusions".

Also Re | AOC's John Coates: Tokyo Olympics 2021 Could Be Greatest Ever

Tokyo Olympics 2021 is scheduled to start of July 23, 2021 and will continue through August 8, 2021. Due to circumstances, Thomas Bach said that  IOC is planning to cut costs in event without compromising spirit and quality of Olympic Games. Back says committee wants Olympics to be a frugal event and concentrate only on essentials.

Also Re | Very Hopeful Of  Tokyo Olympics 2021 Taking Place, Maintaining My Game And Doing Well: Manu Bhaker