TOKYO (AP) — The Tokyo Olympics have been postponed until 2021. So now the question has to be asked: Who pays the bills for the delay and how large will they be?
The most likely answer is that taxpayers in Japan will pay. One estimate puts the added cost at $2.7 billion. Tokyo Olympic organizers will have to renegotiate leases on venues, pay for maintenance at arenas, and maybe find different venues.
They will also have to deal with real estate developers who are already selling off thousands of apartments at what will be the Athletes Village. The organizing committee also employs 3,500 staff. Some of them may lose their jobs to cost cutting.