IOC confirms 800 mln U.S. dollars in extra spending for postponed Tokyo Games

International Olympic Committee (IOC) is expected to spend up to 800 million U.S. dollars for extra costs arising from the one-year postponement of the Tokyo Olympics.

Japan's prime minister Shinzo Abe announced in March that the showpiece event will be delayed until 2021 "to ensure that the athletes are in peak condition when they compete and to guarantee the safety of the spectators," sparking devastating financial repercussions on both the Japanese government and the IOC.

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