• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Tokyo Olimpics to recieve 800 million US dollars to address current crisisTokyo Olimpics to recieve 800 million US dollars to address current crisisTokyo Olimpics to recieve 800 million US dollars to address current crisisTokyo Olimpics to recieve 800 million US dollars to address current crisis
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Daily News Hungary Daily News Hungary · 15/05/2020
· World

Tokyo Olimpics to recieve 800 million US dollars to address current crisis

competition coronavirus investment Japan Olympic Games
tokyo 2020 olympics

Photo: www.facebook.com/Tokyo2020

The International Olympic Committee (IOC) will cover costs of up to 800 million U.S. dollars incurred due to the postponement of the 2020 Tokyo Olympic Games, IOC president Thomas Bach said at a teleconference on Thursday.

The teleconference came after the IOC’s first-ever full remote meeting, which approved a financial envelope of 800 million dollars.

“We anticipate that we will have to bear costs of up to 800 million U.S. dollars for our part of the responsibility for the organization of the Games,” Bach said.

Tokyo Olympic Games to be held from July 23 to August 8 in 2021
Read alsoTokyo Olympic Games to be held from July 23 to August 8 in 2021

According to Bach, 650 million dollars will go towards the organization of the postponed Tokyo Games, and an aid package of up to 150 million dollars will be provided for the Olympic Movement, including international federations, National Olympic Committees (NOCs) and IOC-recognized organisations.

The meeting also revealed that the 136th IOC session, originally scheduled to be held before the Tokyo Olympic Games’ opening ceremony this year, will instead be held virtually on July 17 and be broadcast live to the public.

papp lászló sportaréna
Read alsoChina, Morocco and Hungary will remain the hosts of continental qualifiers for the Tokyo 2020

Tokyo 2020 CEO Toshiro Muto said here on Friday that the postponement of the Tokyo Olympics will provide a “unique” opportunity for the 2022 Beijing Winter Olympics.

Wei Jizhong, former Secretary-General of the Chinese Olympic Committee, was worried that the delay will affect the marketing prospects of the Beijing Winter Olympics because there are only six months between the two showpiece events.

Muto told reporters in an online briefing, “The Beijing Winter Games are going along very nicely. There might be some impact felt from the postponement of the 2020 Olympic Games.

“But there will a higher level of media attention after the Tokyo Games. I think that might provide some unique opportunities.”

Source: Xinhua

competition coronavirus investment Japan Olympic Games
Share
Daily News Hungary
Daily News Hungary

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Hungarian tourism boomed in 2022, but where did most of the visitors come from?
  • President Novák meets Azeri counterpart Ilham Alijev in Budapest
  • Stadiums, World Championships: multiple priced prestige projects in Hungary
  • Focus on energy cooperation: PM Orbán meets Azeri President Ilham Aliyev in Budapest
  • Will it all come out? Report on the 2022 Hungarian parliamentary elections declassified
  • AGROmashEXPO draws 44,000 visitors
  • PHOTOS: 7 fabulous winter lake destinations in Hungary
  • Russian companies are flocking to Hungary amid the sanctions

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V