Lausanne (Switzerland): International Olympic Committee (IOC) President Thomas Bach said on Thursday that the IOC is willing to bear up costs of upto $800 million in the organisation of the postponed Tokyo Olympics. The 2020 Olympics was postponed to 2021 this March due to the coronavirus pandemic that has killed an estimated 3 lakh people worldwide and infected over 4 million.
"We anticipate we will have to bear costs of up to $800 million for our part and responsibilities in the organization of the postponed Games Tokyo 2020," Bach said in a teleconference after the IOC's Executive Board meeting.
Bach said that "$650 million would go towards the organization of the Games next year and $150 million to support international federations and National Olympic Committees (NOC)."