Tokyo Olympics organisers say will cut costs by Sh30 billion

The cost of the coronavirus-postponed Tokyo Olympics will be slashed by $280 million (Sh30 billion), organisers said yesterday, touting a scaled-back, less flashy Games, with cuts to everything from staffing to pyrotechnics.

But the final cost of the event, officially budgeted before the pandemic at 1.3 trillion yen ($12 billion), remains unclear because additional expenses caused by the postponement have not yet been made public.

"Tokyo 2020 believes that this work will help to create a model for future global events including forthcoming Games amid the new normal in which we now live," organisers said in a statement after a presentation to the International Olympic Committee Executive Board.

They said they would put out an updated budget, including additional costs linked to postponement and coronavirus counter-measures, by the end of the year.

Plans for a lower-key event were unveiled in late September, with measures including fewer free tickets, scrapping athlete welcome ceremonies, and savings on banners, mascots and pyrotechnics.

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The 2020 Games were postponed earlier this year as the deadly new coronavirus spread around the globe, and are now set to open on July 23, 2021.