The International Olympic Committee expects to bear costs of up to $800 million (656.87 million pounds) for its part in the organisation of the postponed Tokyo 2020 Olympics, now due to be staged next year, IOC President Thomas Bach.
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.
“We are discussing with international federations the consequences of the postponement… and the postponement of the share of the international federations from the commercial success of the Games,” Bach said.
“We are very well advanced in these discussions and we will continue to assist,” he said.
The figure announced by Bach does not include any costs Tokyo Games organisers and the Japanese government have to incur due to the 12-month delay of the world’s biggest multi-sports event.
The IOC last month was forced to remove a comment from its website that referred to Japanese Prime Minister Shinzo Abe when discussing costs for the postponement, following objections from the Games organisers.
Bach noted that the first priority now was to secure the Olympic venues, including the athletes’ village and the media centres, for another year.
“This is not an easy undertaking. Our Japanese friends are working with full force on this,” he said.
Bach declined to speculate on a possible new delay to the Games if the coronavirus is still a major concern next year.
More than 90 vaccines are currently being developed globally, with eight in the clinical trial phase. But experts say the process could take years and may not happen at all.