Tokyo Olympic CEO Promises ‘Transparency’ Over Cost of Delay
TOKYO (AP) — The chief executive of the Tokyo Olympics has promised “transparency” with the Japanese public regarding the cost of postponing the games until next year. Neither the Japanese organizers nor the IOC has said what it will cost. Estimates in Japan range between $2 billion and $6 billion. CEO Toshiro Muto says only that expenses “will be higher than the originally planned budget.” Japanese governments are expected to pick up almost all of the added costs under an agreement signed with the International Olympic Committee. The cost issue is sensitive in Japan. The country could be deep in a recession next year because of the coronavirus pandemic.