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Olympics postponement costing $800M, IOC says

Japan 2020

(WFLA/CNN) – Postponing the 2020 Olympics came with a hefty price, the International Olympic Committee says.

According to the IOC, postponing the Tokyo 2020 Games will likely cost the organization up to $800 million.

The Summer Games were supposed to begin in July in Tokyo. But when the global coronavirus pandemic hit, the decision was made to postpone the Olympics until July 2021.

IOC President Thomas Bach would not talk about a possible further delay to the games due to coronavirus. He said he did not want to “fuel any speculation of any future development.”

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