Postponed Tokyo Games To Cost IOC Up To $800M In Added Expenses

IOC President Thomas Bach today said his organization is prepared to spend up to $800M to cover increased costs associated with the postponement of the Tokyo Games. That total includes up to $650M for incremental operating expenses. The remainder is comprised of up to $150M in financial aid to support international federations.

That increased funding will come from the IOC, though Bach noted the Olympic Foundation may also be tapped. Reducing expenses remains a priority for the IOC, and Bach said the organization is “leaving no stone unturned” as it looks for ways to trim its budget. “Everything is being discussed and everything is on the table,” he said.

The IOC has also extended the terms of five athlete IOC members by one year, including U.S. Gold Medal-winning cross-country skier Kikkan Randall. "The executive board was of the unanimous opinion that at this critical time we need full representation of athletes,” said Bach. Elections to select their replacements will take place at next year’s Games.

Bach added that the IOC has increased its Olympic athlete solidarity budget by $15M, which will fund more than 1,600 athlete scholarships.