Menu
Olympics

Tokyo 2020 Organizers Facing Cost Increases Up To $2.6B

While Rio Olympic organizers are "under immense pressure to finish preparations" before Aug. 5, their Tokyo counterparts are "already facing skyrocketing costs for an event four years away," according to the AP. Tokyo 2020 Organizing Committee President Yoshiro Mori acknowledged at an exec board meeting this week "the cost of building seven temporary venues for the Olympics has surged" to an estimated $2.6B, up from an initial estimate of $690M. Mori said that the original figures "were the result of sloppy calculations which he blamed on the Tokyo metropolitan government and the Japanese Olympic Committee." The organizing committee has not disclosed an official estimate of the overall costs but has "acknowledged it will be considerably higher" than the $3.5B that was forecast in the bid. Tokyo organizers said that they have saved more than $2B by "working with the Tokyo government to cut costs by moving some events to existing facilities" (AP, 7/28).

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/2016/07/29/Olympics/Tokyo-Cost-Increases.aspx

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

https://www.sportsbusinessjournal.com/Global/Issues/2016/07/29/Olympics/Tokyo-Cost-Increases.aspx

CLOSE