IOC urges Tokyo to keep costs below $20 billion

Tue Nov 29, 2016 4:18am EST
 
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By Elaine Lies

TOKYO (Reuters) - The International Olympic Committee (IOC) has urged Tokyo to keep costs for the 2020 Summer Games below $20 billion as the hosts continue to grapple with ballooning expenses for the multi-sports event.

Tokyo governor Yuriko Koike ordered a review of the budget that recommended revised plans for three venues to trim costs projected to hit 3 trillion yen ($26.75 billion), four times the initial estimates made when Tokyo won the rights for the Games.

At an open meeting for a four-party working group that includes the IOC on Tuesday, Tokyo 2020 organizers vowed to keep costs below $20 billion but the Olympic authority felt even that ceiling was too high.

"The IOC has not agreed to that amount of money," IOC Vice President Peter Coates told reporters after the meeting, the culmination of a month of technical talks and lower level working group gatherings.

"We believe the Games can be delivered for significantly less than that," he said, noting that the IOC would sit down with Tokyo officials to discuss further cuts.

Among proposals discussed were those made by the Tokyo government to move rowing and canoe/kayak sprint events to an existing course 400 km (250 miles) north of Tokyo, and using older facilities in the capital for volleyball and swimming.

Koike, who became governor in August, told the meeting that due to the high cost of refurbishing the existing rowing venue, Tokyo had decided to stick with plans to build a new one in the capital.

  Continued...

 
International Olympic Committee (IOC) Vice President and Chairman of the Coordination Commission for the Tokyo 2020 Games John Coates and Tokyo Governor Yuriko Koike attend a meeting of the Four-Party Working Group, gathering representatives of the IOC, the Tokyo 2020 Organising Committee, the Tokyo Metropolitan Government and the government of Japan, in Tokyo, Japan November 29, 2016.  REUTERS/Issei Kato