IOC praised Japanese organisers for Soaring costs for 2020 Tokyo Games

Vastavam web: The International Olympic Committee (IOC) today praised Japanese organizers for slashing costs for the 2020 Tokyo Games, but warned that soaring Olympic budgets could see future bids dry up.Tokyo 2020 coordination commission chairman John Coates noted that significant progress had been made since the IOC ordered local organizers to keep costs below 20 billion but added that more needed to be done.”We know you can pay for the Games in a city as strong financially as yours and with the support you get from the government, private sector and sponsorship,” added Coates.

The IOC pledged earlier this year to make changes to the Olympic bidding process following the withdrawal of Budapest from the race to host the 2024 Games, leaving just Paris and Los Angeles in the running.”If we appear to be pushing very hard on saving money, it’s for our own future that we are doing it — just as much as you want to do it for your taxpayers,” Coates said.Tokyo governor Yuriko Koike last year ordered a review of the budget that recommended revised plans for three venues to reduce costs projected to balloon to more than 25 billion — four times the initial estimates when Tokyo won the 2020 hosting rights.

As Tokyo organizers battle to rein in costs, Coates added that a progress report on the troubled 2020 Olympic stadium would be high on the agenda during the coordination commission’s visit.Coates also said the commission hopes to decide on the 2020 Olympic role of Fukushima, which was hit by a nuclear meltdown following the deadly 2011 tsunami that devastated north-east Japan.”We want to finalize how many games in baseball and softball will be held in Fukushima,” he said.