Tokyo Olympic CEO on Costs and Losses

By: Precious M. Lesupi

Almost two months after the Tokyo Olympics were postponed, Toshiro Muto, the organizing committee CEO said that he could not give an estimate of how much the delay would cost. In Japanese media, numbers have ranged between $2 billion and $6 billion thus far with most heavy expenses possibly to be covered by government entities.

“We are looking into every possible area,” Muto said. “It’s time for all of us to review what are the essential things for the games. What are the must-have items? … I think we might come up with a new Olympic and Paralympic Games, something that is unique to Tokyo,” he conitnued.

According to Muto, the International Olympic Committee (IOC) said that $150 million would be made available for loans to national Olympic committees and sports federations, some of which have few sources of revenue outside the games.

Muto continued to explain that organizers are still trying to guarantee that 43 venues will be available next year, hoping to keep the same event schedule when the Olympics open on July 23, 2021.

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