TOKYO – The International Olympic Committee will face “several hundred million dollars” of added costs because of the postponement of the Tokyo Games, the body's president said.
Thomas Bach spoke in an interview with German newspaper Die Welt on Sunday. Estimates in Japan put the overall cost of the postponement at $2 billion-$6 billion.
Except for the IOC portion, all added costs will be borne by the Japanese side according to an agreement signed in 2013 when Tokyo was awarded the Olympics.
Bach said it was “impossible to say for now" the extent of the added costs for the IOC caused by the coronavirus pandemic. “We agreed with the prime minister that Japan will continue to cover the costs it would have done under the terms of the existing