London, May 14 (Jiji Press)–The International Olympic Committee is expected to shoulder up to 800 million dollars, or some 85.6 billion yen, for the one-year postponement of the Tokyo Olympics to summer 2021 due to the new coronavirus outbreak, President Thomas Bach said Thursday.
Bach unveiled the prospect during an online press conference after an IOC Executive Board meeting, which was also held online.
Of the additional costs to be borne by the IOC, 650 million dollars will be used as expenses to operate the Tokyo Olympic Games, which will begin on July 23, 2021, and 150 million dollars will be spent to mainly aid the International Federations and the National Olympic Committees.
While the postponement of the Tokyo Olympics is expected to cost hundreds of billions of yen in total, Bach did not mention the possible dividing of the additional costs with the Japanese side.
On the possibility of pushing back the Tokyo Olympic Games again or changing locations if the outbreak is not contained, Bach noted that there are still 14 months until the opening of the Tokyo Olympics.
He warned that people should not fuel any speculation on future developments.
A task force jointly set up by the IOC and the Tokyo Olympics organizing committee after the postponement decision reported to the IOC Executive Board at the meeting that the Japanese side will call on all 42 venues to hold competitive events on the newly set dates.
It also said that measures to tackle the spread of the new coronavirus will be included in the Tokyo Olympics’ operation plan.
The IOC decided to hold a general meeting, originally planned to be held this summer in Tokyo, online on July 17.
In Tokyo on Friday, Seiko Hashimoto, Japanese minister for the Tokyo Olympics and Paralympics, told a press conference that the Japanese side will carefully watch the IOC’s discussions on the additional costs.