• Loading stock data...
Saturday, July 12, 2025

Tokyo Olympics Organizers to Shave $280 Million from Budget

  • Officials say they are scaling back some fringe elements, like decorations and hospitality.
  • The official Tokyo budget is $12.6 billion, but an audit showed the actual cost could be double that.
Tokyo Olympics Organizers to Shave $280 Million from Budget
Yukihito Taguchi-USA TODAY Sports

Organizers for the delayed 2020 Tokyo Olympics estimate they have found simplification measures that will save about $280 million from the Games’ budget, according to The Associated Press. 

The official Tokyo budget is $12.6 billion, so the cost-saving measures will shave off about 2% from that figure. A national audit conducted last year, however, shows that the actual cost could be twice as high as what’s been officially reported. A separate study from the University of Oxford published in September said that Tokyo is already the most expensive Summer Olympics in history.

The cuts were announced after an online meeting of International Olympic Committee and Japanese officials. Organizers had previously announced plans to simplify the Games in June.

In total, about 50 cuts were proposed, according to the AP — mostly to fringe elements of the Games. Spending on the most expensive items, like new venues, has already been done. 

Some of the measures include “changes in equipment and re-configuring venues; fewer decorative banners; a 10-15% reduction in ‘stakeholders’ delegation sizes; fewer shuttle buses; reduction in hospitality areas; suspension in production of mascot costumes; and cancellation of official team welcome ceremonies,” the AP reported. 

None of the measures affect the number of sports or athletes set to appear. The AP also reported that the opening and closing ceremonies, the 121-day torch relay leading up the Games, and the competition facilities seen on TV are going “largely untouched.” 

Tokyo Olympic Chief Financial Officer Gakuji Ito stressed that the $280 million figure was just an estimate. 

“How we calculated the cost reductions is something that is unprecedented and it is an initiative no one has ever experienced,” Ito said, translated from Japanese. “From an administrative perspective, we struggled hard.”

Organizing committee president and former Japanese prime minister Yoishiro Mori said that the number of parties and receptions for VIPs will be scaled back, and that future Games organizers might want to take note. 

“Every night somewhere a party is being held,” Mori said, in Japanese. “And almost all the same people are gathered at the parties and receptions. These were reduced in number and scale. Every night a reception was being held, but now it’s not every night. This is going to be a good model for future organizers.”

Both Mori and Toshiro Muto, the former deputy governor for the Bank of Japan, declined to give an estimate of the total cost of postponement. 

“We are in the process of doing that, calculating that,” Muto said. “We are not able to give you a concrete number as of yet.”

A previous AP report estimated that the postponement will cost between $2 billion and $6 billion. In May, the IOC committed $800 million to help offset the costs, with $650 million going directly to putting on a delayed event — the remaining $150 million is set to go to international sporting federations, national Olympic committees, and athletes. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Caster Semenya

Caster Semenya’s Legal Win Could Reopen Fight Against Testosterone Limits

The Olympian champion’s appeal against gender eligibility rules continues.
Michael Johnson

Grand Slam Track Still Owes Athletes $13 Million: Source

The new track league hasn’t paid athletes in full yet.

NHL to Rejoin Olympic Ice in Milan—and NBC Set to Cash In

NHL players last competed in the Olympics in 2014.
Faith Kipyegon

Nike’s Sub-4:00 Stunt Falls Short With Fastest Women’s Mile Ever

Male pacers and cutting-edge tech helped Kipyegon shave off one second.

Featured Today

Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
Jun 13, 2018; Moscow, Russia; A general view of a beer stand inside of Luschniki Stadium one day prior to the start of the FIFA World Cup 2018.

Saudi Arabia Says No Alcohol at 2034 World Cup

Saudi Arabia won’t allow alcohol anywhere during the 2034 World Cup.
August 30, 2024

Premier League Transfer Spending Has Already Topped $2 Billion As Deadline Looms

Saudi Pro League teams haven’t yet matched their English counterparts.
January 13, 2025

Gavin Newsom Reveals Status of 2028 Olympics As Los Angeles Wildfires Roar

Gavin Newsom says there’s a “Marshall Plan” to rebuild Los Angeles.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Paralympics Tiktok
August 25, 2024

The Wildly Successful Paralympics TikTok Account Isn’t What You Think

A cheeky TikTok account is opening the world of Paralympic sports.
August 11, 2024

Passing of the Torch: Los Angeles Set for Olympic Firsts in 2028

The city last hosted the Summer Olympics in 1984.
August 1, 2024

Saudi Arabia Submits Bold World Cup Bid That Includes a Cliffside Arena

The Saudis are proposing a new stadium in a futuristic city called Neom.
John John Florence (USA) surfs in men’s round two competition during the Tokyo 2020 Olympic Summer Games at Tsurigasaki Surfing Beach.
July 29, 2024

Olympic Surfers Won’t Get Their Full Paris Moment

‘We’re kind of separate off on our own little thing over here.’