IOC EXECUTIVE BOARD AND TOKYO 2020 DISCUSS USD 280 MILLION IN SAVINGS FROM MEASURES DEVELOPED TO DELIVER GAMES FIT FOR POST-CORONA WORLD
The International Olympic Committee (IOC) Executive Board (EB) and Tokyo 2020 Organising Committee today discussed the estimated USD 280 million (JPY 30 billion) in cost savings that will be achieved by initial simplification and optimisation measures developed to deliver Games fit for a post-corona world.
This tentative figure was revealed at the IOC EB meeting held remotely earlier today. It is based on over 50 measures that were agreed by the IOC and Tokyo 2020 at last month’s Coordination Commission meeting.
Speaking after the meeting, IOC President Thomas Bach said: “We got another very encouraging, precise and excellent report from the Tokyo Organising Committee. There is really great progress being made to make these Olympic Games fit for the post-corona world. Savings of about USD 280 million will be achieved in the operational budget by applying 50 plus measures, which had been agreed between the Organising Committee and the IOC Coordination Commission in the last meeting.”
Examples of some of the key measures being implemented include: the review of specifications for temporary overlay and other equipment at venues; the reduction of service levels and the Look of the Games in venues and in the Olympic and the Paralympic Village; the optimisation of the Tokyo 2020 Olympic Torch Relay operations; encouraging stakeholders to optimise their delegation working in Tokyo; and also staffing plans for the Organising Committee.https://www.youtube.com/embed/UoSvJdCEeow?modestbranding=1&rel=0&wmode=transparent&enablejsapi=1&origin=https%3A%2F%2Fwww.olympic.org
The results of these efforts will now allow Tokyo 2020 to estimate the total additional costs associated with the postponement, including the approximate costs for COVID-19 countermeasures. The Organising Committee will work through these topics in detail and present its updated budget by the end of this year.
On the countermeasure planning, President Bach commented: "We also see that the work on COVID countermeasures is making good progress, and that more and more measures are being added, including the potential availability of vaccines and rapid testing – where we are very confident that they will be available. All these new methods will be added to the toolbox, which will then be available when we have to take the final decision. Then we can decide which tools we can take out of this toolbox, and apply them for the safe organisation of these Olympic Games, about which both the Organising Committee and the IOC are very, very confident."
The IOC EB also agreed on an addendum to the Host City Contract, which has now been approved by all the relevant parties.