Tokyo Olympics: Sponsors pay USD 3.3 billion; more funds necessary to cover entire cost of postponement

Tokyo Olympics: Sponsors pay USD 3.3 billion; more funds necessary to cover entire cost of postponement

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Tokyo Bay

Sponsors for the postponed Tokyo Olympic Games 2020 have reportedly contributed an unprecedented amount of USD 3.3 billion for the Games which is as twice as much as any other game. However, more funds are still required. Costs are believed to continue to soar due to the postponement.

“We are in the process of asking for additional sponsorship (payments) from our partners,” organizing committee CEO Toshiro Muto said according to Japanese newspaper The Japan Times. “The sponsors have expressed the willingness to contribute to the Games next year. But they have not specified an amount,” he added.

‘Preparations for Olympics will continue’

IOC president Thomas Bach

Speaking about the conducting of the Games, “We will continue with our preparation toward a safe and secure Olympics while paying heed to further developments,” spokesman Tomonao Matsuo said. Now a former executive official at Dentsu – an advertising company, named Haruyuki Takahashi is reported to have paid millions for lobbying IOC members.

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Speaking about him IOC President Thomas Bach said, “With regard to Mr. Takahashi, we received confirmation that there was no infringement on the IOC rules.” Dentsu which is considered a powerhouse in media in Japan recorded a huge profit of USD 96 million this year and the same had come under the scanner as well.

“Dentsu’s influence is pervasive from the newsroom to the prime minister’s office. It is a driving force to keep the Olympics on track despite the grave risks,” a renowned Japanese professor is said to have written according to Japan Times.

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