Washington Post

IOC pledges $800 million in aid to offset losses from Tokyo 2020 postponement

Foto: Denis Balibouse

The International Olympic Committee has created an $800 million fund to cover increased costs associated with the 12-month postponement of the 2020 Tokyo Summer Olympics, providing a starting point for estimating the financial hit the IOC will absorb from the scheduling shift resulting from the ongoing global coronavirus pandemic.

Of the funds, about $650 million will go to cover operating expenses associated with postponing the games from summer 2020 to summer 2021, which the IOC announced in March, with the remaining $150 million going to individual international sport federations (IFs) and national organizing committees (NOCs) to help cover cash-flow shortages...

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