Tokyo 2020 Olympics Organizers Estimate Total Costs Could Reach $15B

The Tokyo Olympic organizing committee reportedly "estimates the total cost of hosting the 2020 Games" at between 1.6T yen ($13.5B) and 1.8T yen ($15B), according to KYODO. The central, Tokyo metropolitan and other governments will be asked to put up between 1.11T yen ($9.4B) and 1.34T yen ($11.4B), "with the new estimate to be presented to a meeting of a four-party working group scheduled for Wednesday." Last month, the games organizers "proposed slashing" the estimated 3T yen ($25B) budget to under 2T yen ($17B). But the IOC, having recently consulted with cities that "abandoned their bids for the sporting spectacles over cost concerns, is calling for further cuts." An informed source said that the operational costs of the games will be 820B yen ($6.9B), "with the IOC covering half of that." Organizers "will also foot" 90B yen ($763M) of the 330B yen ($2.8B) bill for temporary facilities (KYODO, 12/17).