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The International Olympic Committee allocates 800 million U.S. dollars to deal with the extra costs of extension

The International Olympic Committee will allocate US $ 800 million to help deal with the “serious” financial impact caused by the extension of the Tokyo Olympics.

The International Olympic Committee allocated 800 million US dollars, mainly to deal with the additional costs of extension.  AP
The International Olympic Committee allocated 800 million US dollars, mainly to deal with the additional costs of extension. 
AP

Due to the spread of the new coronavirus epidemic, the Olympics originally planned for the summer of 2020 will be postponed for one year. International Olympic Committee President Bach pointed out that the new coronavirus epidemic has caused serious impacts on the Olympic sports industry and the global economy. Many events were forced to be cancelled. The uncertainty of the epidemic also made it difficult to plan events. , Approved the establishment of 800 million US dollars.

According to reports, the 800 million US dollars allocated by the International Olympic Committee will be divided into two parts. Among them, 650 million US dollars will be used as an extra event organization cost caused by the delay of the Tokyo Olympics. An additional US $ 150 million will be used as support for the Olympic Games and will be provided to the International Sports Federation and the National Olympic Committee with cash flow problems to support these organizations to continue their work and support athletes.

Asked if the new Olympic pneumonia vaccine was not developed before the 2021 Tokyo Olympics, the question of whether the Tokyo Olympics will be further postponed or canceled, IOC President Bach declined to speculate. He said: “We still have one year and two months, so it is too early to draw any conclusions.”

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