Tokyo Olympics organisers say will cut costs by $280m
Tokyo
The cost of the coronavirus-postponed Tokyo Olympics will be slashed by $280 million, organizers said yesterday, touting a scaled-back, less flashy Games, with cuts to everything from staffing to pyrotechnics.
But the final cost of the event -- officially budgeted before the pandemic at 1.3 trillion yen ($12 billion) -- remains unclear because additional expenses caused by the postponement have not yet been made public. “Tokyo 2020 believes that this work will help to create a model for future global events including forthcoming Games amid the new normal in which we now live,” organizers said in a statement after a presentation to the International Olympic Committee Executive Board.
They said they would put out an updated budget, including additional costs linked to postponement and coronavirus counter-measures, by the end of the year. Plans for a lower-key event were unveiled in late September, with measures including fewer free tickets, scrapping athlete welcome ceremonies, and savings on banners, mascots, and pyrotechnics.
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