The Olympic Games to be held in Tokyo this year were postponed for a year in view of the Coronavirus crisis. According to the report that is now coming out, the International Olympic Committee (IOC) will have to suffer heavy losses. IOC President Thomas Bach said that the IOC's cost of these games would increase by several hundred million dollars due to the postponement of the Tokyo Games.
According to estimates in Japan, the total cost will increase by two billion dollars (about 152 billion rupees) due to the postponement of the Olympics. As per the 2013 agreement in this regard, all additional costs except the share of IOC will be met by Japan. Bach said that the damage caused due to the Coronavirus infection is very difficult to estimate right now. We also have to spend several crores extra.
This was the first time when the Olympic Games has been postponed. However, the big question is still whether the Olympic Games postponed due to the coronavirus will be held next year as Tokyo Games CEO Toshiro Muto himself recently said in a statement that there is no guarantee that these games will be organized next year also because the effect of coronavirus has not reduced yet.
