Local sponsors have "chipped in a record" $3.3B to "support the postponed Tokyo Olympics," according to Stephen Wade of the AP. That is "at least two times more than any previous Olympics, and it amounts to almost 60% of the income for the privately funded operating budget." Another 14% of the income is "budgeted from ticket sales which could be in jeopardy with empty venues a possibility because of the coronavirus." With the games delayed for a year, sponsors "will be asked to sign up again." Tokyo Organizing Committee of the Olympic and Paralympic Games spokesperson Masa Takaya said that talks "would begin next month." Wade notes a poll published earlier this month by Japanese broadcasters NHK said that "two-thirds of sponsors are undecided about extending for another year." Tokyo organizers also said that they "have to re-negotiate contracts with 11 so-called TOP sponsors, who also have long-term contracts with the IOC." The Japanese newspaper Asahi this week cited sources as saying that organizers "will be asking 'for more sponsor fees payments.'" Wade notes this request "could face opposition, with many companies struggling with the pandemic and a loss of revenue" (AP, 6/25).
