Postponing the Tokyo 2020 Olympic Games by one year could cost organisers a staggering $2.7billion (£2.3bn), it is claimed. Postponing the Tokyo 2020 Olympic Games by one year could cost organisers a staggering $2.7billion (£2.3bn), it is claimed.Organisers announced in December that the budget for the Games was likely to be around $12.6bn (£10.7bn), already a steep increase from Tokyo's projected costs of $7.3bn (£6.2bn) when they were awarded the games in 2013. .
With the added $2.7billion (£2.3bn), the Games are now likely to cost $15.3bn (£13bn).
That would make Tokyo 2020 the second most-expensive Games in history, but still falling way behind the 2014 Sochi Winter Olympics which cost a staggering $21.9bn (£18.6bn).
The Games will still be called Tokyo 2020 despite being held next year, with a likely new start date of July 2021. The Paralympics, due to be staged this August and September, have also been postponed. Prime minister Abe triggered Tuesday's unprecedented move in a phone call with Bach.
Abe said: 'We asked President Bach to consider postponement of about one year to make it possible for athletes to be in the best condition, and to make the event a safe and secure one for spectators.'
The decision was then confirmed in a joint statement from the IOC and Tokyo 2020 organisers.
It read: 'In the present circumstances, and based on the information provided by the World Health Organisation today, the IOC president and the prime minister of Japan have concluded that the Games must be rescheduled to a date beyond 2020 but not later than summer 2021, to safeguard the health of the athletes, everybody involved in the Games and the international community.'
The Olympics were last cancelled in 1944 because of the Second World War but have never before been delayed in their 124-year modern history.
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