Postponed Tokyo Olympics to cost extra $2.4bn

Postponed Tokyo Olympics to cost extra $2.4bn
Organizers of the delayed Tokyo Olympics are declining to confirm widely circulated reports in Japan that the costs of the one-year postponement will be about $3 billion. (AP)
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Updated 04 December 2020

Postponed Tokyo Olympics to cost extra $2.4bn

Postponed Tokyo Olympics to cost extra $2.4bn
  • The extra costs come as officials work to build enthusiasm for the first Games postponed in peacetime,
  • Tokyo 2020 said an additional $1.5 billion would be needed for operational costs related to the delay

TOKYO: The coronavirus-delayed Tokyo Olympics will cost at least an extra $2.4 billion, organizers said Friday, with the unprecedented postponement and a raft of pandemic health measures ballooning an already outsized budget.
The extra costs come as officials work to build enthusiasm for the first Games postponed in peacetime, insisting the massive event can go ahead next year even if the pandemic is not under control.
But more spending, on top of the previous budget of about $13 billion, could further harden public opinion in Japan, where polls this year showed a majority of people think the Games should be postponed again or canceled together.
“Whether it’s seen as too much or that we have done well to contain the costs, I think it depends on how you look at it,” Tokyo 2020 CEO Toshiro Muto told reporters.
“We have done all we can to earn the public’s understanding,” he added.
Tokyo 2020 said an additional $1.5 billion would be needed for operational costs related to the delay, with another $900 million in spending on coronavirus countermeasures.
The dollar figures are calculated at an exchange rate of 107 yen, and the total is around $2.56 billion at today’s rate. The costs look set to rise further, with Tokyo 2020 saying it would also release an additional $250 million in “contingency” funds.

The new spending swells a budget that was set last year at around $13 billion, and will add to disquiet about the cost of the Games after an audit report last year argued the national government was spending significantly more than originally planned.
The extra costs will be split between Tokyo, the organizing committee and the national government. The International Olympic Committee will not be chipping in, but has agreed to waive its sponsor royalty fee for the first time, organizers said.
The unprecedented decision to delay the Games has thrown up a plethora of extra costs, from rebooking venues and transport to retaining the huge organizing committee staff.
And with organizers committed to hosting the Games even if the pandemic remains a threat, extensive safety measures will be needed.
Tokyo 2020 this week released a 54-page plan they said would make it possible to hold the Games, including restrictions on athletes touching and fans cheering, and an infection control center in the Olympic Village.
Organizers have tried to scale back elements of the Games, offering fewer free tickets, scrapping athlete welcome ceremonies and making savings on mascots, banners and meals, but so far they have cut just $280 million in spending.
And on Thursday, they said 18 percent of Olympic tickets sold in Japan will be refunded, with domestic fans demanding their money back on about 810,000 of the 4.45 million tickets sold in the country.

Organizers hope to now resell those tickets, and demand for seats at the Games was high before the pandemic.
But enthusiasm has since waned, with a poll in July revealing that just one in four people wanted to see the event held in 2021, and most backing either further delay or cancelation.
Tokyo 2020 President Yoshiro Mori said the spending plan was carefully considered and he hoped people would accept it.
“If you have a drink, you could say your glass is half-full, or half empty. It depends on how you look at it,” he told reporters.
“There’s a rationale behind this plan. I hope the Japanese people will understand it.”
Tokyo 2020’s final price tag has been hotly disputed, with an audit report last year estimating the national government spent nearly 10 times its original budget between 2013-2018.
Organizers countered that the estimate included items not directly related to the Games.


Chelsea fires coach Frank Lampard halfway through second season

Chelsea fires coach Frank Lampard halfway through second season
Updated 25 January 2021

Chelsea fires coach Frank Lampard halfway through second season

Chelsea fires coach Frank Lampard halfway through second season
  • Chelsea has lost five of its last eight Premier League games and dropped to ninth place

LONDON: Frank Lampard was fired by Chelsea on Monday halfway through his second season in charge of the London club after being unable to replicate his success as the club’s record scorer in his first Premier League managerial job.
Chelsea has lost five of its last eight Premier League games and dropped to ninth place, despite Lampard benefiting from nearly $300 million spent on new players for this season.
Chelsea said the performances had not shown “any clear path to sustained improvement” — making a change of managers necessary.
“This was a very difficult decision for the club, not least because I have an excellent personal relationship with Frank and I have the utmost respect for him,” owner Roman Abramovich said. “He is a man of great integrity and has the highest of work ethics. However, under current circumstances we believe it is best to change managers.
“On behalf of everyone at the club, the Board and personally, I would like to thank Frank for his work as head coach and wish him every success in the future. He is an important icon of this great club and his status here remains undiminished. He will always be warmly welcomed back at Stamford Bridge.”
As the pressure has grown, the cracks were showing ahead of this weekend’s FA Cup win over Luton, when Lampard hit out at perceived negative coverage of the club.
But his own shortcomings of a fledging coaching career were being exposed and sentimentality counted for little despite being instrumental to the trophy-laden revival of the club as a player since the takeover by Abramovich in 2003.
Chelsea brought back its midfield great as coach in 2019 despite him having only a single season’s experience in management in the second division with Derby.
He achieved Champions League qualification in his first season by securing a fourth-place finish in the Premier League. The rush to dismiss Lampard is indicative of the impatience shown by Abramovich, particularly when the team is slipping away from the Champions League spots.
After securing one of the biggest jobs in English management so early in his coaching career, Lampard leaves Stamford Bridge without any success having lost the 2020 FA Cup final to Arsenal.
Lampard is a Chelsea great after scoring 211 goals from central midfield from 2001-14, during which he won every major honor at the club including three Premier League titles and the Champions League. He was associated with some of the best moments in the club’s history and admired for his work ethic and making the most of his talent.