The price tag for delaying the 2020 Tokyo Olympics has finally come out, and, in what should come as a surprise to no one, the move was not cheap. As the Associated Press noted on Monday, widely circulated reports in Japan have pointed to a cost of about $3 billion. T
Tokyo organizers did not dispute this estimate in a statement released Monday, but they also did not confirm whether those estimates were correct.
"We are in the process of assessing the additional costs associated with the postponement of the games due to COVID-19 and therefore are not able to comment on any details at this time," they said.
As for where the $3 billion total came from, here's the math:
- Per Yomiuri newspaper and Kyodo, an estimated 200 billion yen, or $2 billion USD, is being spent to renegotiate venues leases, pay staff salaries and cover other operational costs.
- NHK and Asahi newspaper noted an additional 100 billion yen, or $1 billion USD, will come from costs of vaccines, rapid tests and various other precautions to combat the spread of coronavirus.
An official government explanation of the costs is expected to be released in December, per the AP
The Tokyo Games were canceled back in March with the coronavirus reaching a global pandemic stage around that period of time. It was just the fourth time in the history of the modern games that the event had to be outright canceled, with the other times happening because of World War I and II. Officials have insisted that the postponement is going to be a one-time thing and that there will be no "Plan B" if the Olympics have to be canceled again.
The Olympics are expected to open on July 23, 2021, followed by the Paralympics on Aug. 24.