The International Olympic Committee expects to bear costs of up to US $800 million for its part in the organisation of the postponed Tokyo 2020 Olympics, now due to be staged next year.
In March, the International Olympic Committee and the Japanese government decided to delay the Games, which were due to start this July, for a year because of the coronavirus pandemic that has killed 300,000 people worldwide.
IOC President Thomas Bach says they anticipate they will have to bear costs of up to US $800 million for their part and responsibilities in the organisation of the postponed Games Tokyo 2020.
He says out of the amount that would be set aside, US $650 million would go towards the organisation of the Games next year and US $150 million to support international federations and National Olympic Committees.
International federations rely on the Olympic Games contribution every four years, and with a ban on sports competitions worldwide all of their major sources of revenue have dried up in recent months.
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