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Japanese organisers say 2020 Games delay to cost them $2.8 billion

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The postponement of the Tokyo Olympic Games until next year because of the novel coronavirus pandemic will cost Japanese organisers an additional 294 billion yen ($2.8 billion), the organising committee said on Friday.

According to Reuters, organisers have been assessing the financial impact of the delay since the Japanese government and International Olympic Committee (IOC) decided in March to postpone the Games until 2021.

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

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

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