Menu
Olympics

Tokyo Organizers Looking To Cut $1.7 Billion Off 2020 Olympics Bill

Tokyo "is looking to slash the price tag for the 2020 Summer Olympics" by $1.7B through scrapping or scaling back plans to build new facilities amid fears over spiraling costs, according to the AFP. Recent estimates put the bill for the venues, including the construction of 10 new facilities, at 450B yen ($3.8B) -- "three times the initial estimate." Katsura Enyo, senior official at the Tokyo metropolitan government's 2020 Games planning division, said, "We reviewed our facility plans after the expense swelled due to unexpected additional construction works and surging costs of construction in general." IOC VP John Coates "urged Japanese officials to look into the possibility of holding more sports outside Tokyo." The 2020 Games "are expected to boost the Japanese economy" by an estimated 3T ($34B) yen as building and tourism-related stimulus power growth, "with about half the bonanza going into Tokyo's coffers." However, Tokyo Governor Yoichi Masuzoe "ordered a review of the building plans due to budget concerns earlier this year." Enyo: "It's not only about money. It's also about how to keep green areas pristine and making sure facilities are user-friendly" (AFP, 11/20).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2014/11/21/Olympics/Tokyo-2020.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2014/11/21/Olympics/Tokyo-2020.aspx

CLOSE