Olympics Delay Means $12 Billion Games Just Got More Expensive
- Venue, worker costs are key factors in raising the price tag
- Extra costs estimated at $2.7 billion, Nikkei newspaper says
Photographer: Kiyoshi Ota/Bloomberg
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The decision to delay the Tokyo 2020 Olympics until next year means taxpayers and sponsors likely will have to fork over billions of dollars more just as the global economy caves in during the coronavirus pandemic.
Japanese Prime Minister Shinzo Abe and International Olympic Committee Chairman Thomas Bach agreed on an unprecedented postponement of the event for about a year as the world grapples with the coronavirus infection. It’s the first time the games have been delayed since they began in the 19th century.