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Tokyo’s National Stadium may continue to cost the public around $7.46 million in annual maintenance costs after it goes private.
On Wednesday, the Japan Sports Agency said it will subsidize the operating costs of the stadium as it seeks bids from private entities for rights to operate the main venue of the 2020 Tokyo Olympics.
An open bidding process is expected in fiscal 2023, with the goal of the buyer taking over the facility’s operations in 2024.
- Annual maintenance and operation costs for the venue — which is also set to host the 2025 World Athletics Championship — are estimated to be around $17.8 million.
- The agency offered that around $7.46 million of the figure could be from the state.
- Expenses for the stadium this year are reportedly around $13.7 million.
- Revenue from stadium operations is estimated to be around $4.09 million.
The privatization of the main venue for the 2020 Tokyo Olympics was previously planned for the second half of 2022. The Japan Sport Council, which currently maintains and manages the stadium, is expected to continue paying rent for the land that the stadium sits on.
Stadium Renovations
The Japan Sports Agency made plans in 2017 to renovate the stadium after the Tokyo Games to host exclusively ball sports by removing the running track and adding more seats. It has now reversed course and will be keeping the track.
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