Tokyo 2020: IOC Sets Deadline For Olympics Decision After Prominent Teams Demand Postponement

ZeroHedge

The International Olympic Committee has set a deadline of four weeks to make a decision on whether they will postpone the 2020 games in Tokyo due to the Chinese coronavirus pandemic, according to the BBC.

The move comes after most prominent teams across from various countries have demanded a delay – including the US track and field team, the US swim team – which asked for a one-year delay, and the country of Brazil.

The U.S. swimming and track and field teams are two of America’s most successful Olympic teams, and their popularity is one of the main reasons Comcast Corp.’s NBC agreed to pay $2.6 billion every four years to broadcast the games, significantly more than any other global media company. At the 2016 Summer Games in Rio, they accounted for more than half of the country’s 121 medals, and 29 of the 46 golds. – National Post

According to Ransquawk, organizers are considering a delay of up to two years, though they are hopeful it will only be a 45-day postponement. Japan has already spent $12 billion (USD) on preparations, while reports have suggested up to $3 billion of sponsorship revenue may be at rosk.

Other plans being considered involve holding the games without spectators, and/or scaling back the games.
Some organisers are pushing for a decision to be made quickly, warning that cancellation fees could rise the longer the decision is pushed-back. -Ransquawk

IOC president Thomas Bach said on Friday that “different scenarios” are being considered for the first time – including a ‘scaled-down’ event.

UK Athletics chairman Nic Coward recently suggested that the Olympics should be postponed, while Brazil, Norway and Slovenia’s Olympic committees have also urged the IOC to take action and put the Games back to next year. – BBC

“I do think they will be postponed, it’s inevitable. Every day is the Olympic Games,” said four-time Olympics gold medalist on Canada’s ice hockey team, and a member of the IOC. “Every day athletes cannot train, workout, it’s a day they cannot prepare.”

We suspect they won’t need four weeks to make their decision.