Tokyo olympic games might be cancelled due to coronavirus outbreak, Japan has so far spent 90 thousand crores.
The infection of coronavirus started from China has gradually spread to many countries of the world. Japan is also not untouched by this. On Friday, Prime Minister Shinzo Abe ordered the closure of all schools from 2 March. Olympic games are to be held here in Tokyo from 24 July. Discussions have been started to cancel or postpone them. Member of the International Olympic Committee (IOC) considers Dick Pound an almost impossible task. According to media reports, Japan has spent 12.6 billion dollars (about 90 thousand crores) on these games so far. The economic loss in its place but will have a serious impact on the athletes who spend their lives to be part of the Olympics and win medals.
OIC has two options
What will happen to Tokyo Olympics 2020 if the coronavirus infection is not controlled? This question has started to arise from now. There are two options. First – the date of the Olympic Games should be extended. Second, they should be canceled. However, CNN and CNBC as well as IOC member Dick Pound reject both options. According to them, this would be extremely difficult to do. It will have economic and human consequences.
Why difficult to avoid?
When the Olympic Games are taking place, there is no major sporting event anywhere in the world. The calendar of every sports federation, including the IOC, is fixed according to the Olympic schedule. This is so that all the best athletes in the world can be a part of these sports. From broadcasters to sponsors, they ensure the same so that there is no conflict in the broadcast. When there is no Olympic, all kinds of sporting events are held during that time. Football, basketball and baseball seasons go on.
No plan ‘B’
There is also an alternate host of the Olympic Games. Therefore, this biggest game of the world cannot be organized in any other country or city in a hurry. According to Pound, the most serious impact of canceling or postponing these sports will be for athletes. He takes his whole life to participate in these sports and win medals.
How much economic loss?
According to CNBC, from 2016 till now, the IOC has raised $ 5.7 billion (Rs 40 thousand 470 crore) in revenue for the Tokyo Olympic 2020. 73 per cent of this came from selling media rights. The remaining 27 per cent came from sponsors. If the games are canceled, the IOC will have to return the amount. Not only this, the IOC raises scholarships, education programs as well as funds from federations for athletes all over the world.
What will happen to Japan?
Japan hosts the Tokyo Olympic 2020. According to official figures, he has so far spent $ 12.6 billion on preparations. The total estimated expenditure is two times that, which is around $ 25 billion. Worryingly, Japan’s largest aid agency Dentsu’s shares hit a seven-year low following Dick Pound’s statement on the Tokyo Olympics. Pound had discussed canceling or extending the date for the Tokyo Olympics.
