Tokyo 2020 Games Could Generate $2 Billion
Japanese Olympic Committee President Tsunekazu Takeda, who is head of Tokyo's bid for the 2020 Summer Olympic Games, told RIA Novosti a Tokyo Games could earn at least $2 billion in direct revenue for the host city.
He said the organizing committee expects revenue from sponsorship, ticket sales and licensing, among other things, to nudge past the $2 billion mark, adding that "financial stability is actually our strength".
Ticket revenue is expected to top $755 million. From brand licensing Tokyo 2020 expects to get $48 million, with $414 million coming from other sources.
RIA Novosti reports the figures don't include revenues from the sale of television broadcast rights, which are controlled by the International Olympic Committee (IOC).
Takeda confirmed the Tokyo Metropolitan Government had set aside $4 billion for reconstruction and infrastructure upgrades necessary for the Games, the same as promised for its failed 2016 bid.
Takeda said the bid's budget is $83 million. The Tokyo 2016 bid cost $150 million and was criticized, leading to promises to halve the budget this time around.Write or read comments about this article
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