POSTED: December 2nd 2011
Tokyo 2020 to slash budget to half of 2016 bid at around $75 million
LAURA WALDEN / Sports Features Communications
TAMPA: In line with other 2020 Olympic bids Tokyo has also decided to dramatically reduce their campaign budget for the next round of Games’ bidding.
The Japanese bid was under fire for spending an approximate $150 million on the last bid for the 2016 Games that eventually went to South America with Rio de Janeiro.
Bid ceo, Masato Mizuno, spoke out to Reuters explaining the new tactic and said that on the last bid they learned a lot about the financial aspects of bidding and on this round they would use that and be a lot smarter.
Even at an estimated $75 million that is still a strong number for preparations and tops what Italy is looking at spending.
Mizuno quipped as he compared the situation of the two bids as earlier having enough money to eat steak but this time they plan to “find some nice noodles”.
Also the country was rocked with the devastating earthquake and tsunami in March bringing on a nuclear threat at a power plant north of Tokyo and this greatly affected the city’s desire to re-bid.
However Mizuno sees the opportunity, much like Italy and Spain who are in economic crises, to use the Olympics to boost morale and infuse the economy domestically.
But different from the other cities they already have the Games’ $4.8 billion budget in the bank which is a compelling factor.
He also brought up the point that he felt many people find the Japanese people very outgoing and used the win of PyeongChang 2018 as a comparison how the Koreans avalanched their win.
This was attributed to having an open and friendly team and he confirmed that Tokyo planned to follow the same example.
Tokyo is up against Baku, Doha, Istanbul, Madrid and Rome to host the summer Games. The final vote will be held in September 2013 in Buenos Aires, Argentina.
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