September 13, 2017 / 3:53 PM / 2 years ago

Tokyo 2020 domestic sponsor revenue at record $2.8 billion

Images, using projection-mapping technology, are beamed on a building of Tokyo Metropolitan Government Office during a countdown event to mark three years until the Tokyo 2020 Summer Olympics in Tokyo, Japan July 24, 2017. REUTERS/Toru Hanai

LIMA (Reuters) - Domestic sponsorship for the Tokyo 2020 Olympics has so far reached a record $2.8 billion (£2.11 billion) — almost three times as much as in any previous summer Games — the International Olympic Committee said on Wednesday.

John Coates, the head of the IOC’s Tokyo Games co-ordination commission, praised organisers for their achievement, during his address to the IOC session in the Peruvian capital.

“The report (of Tokyo 2020) confirms the very positive impression that the co-ordination commission has,” Coates said, adding that revenue from the 43 domestic sponsorship deals signed by Tokyo organisers so far had exceeded expectations.

“Forty-three domestic partnerships — that’s three times their initial budget (of around $1 billion for domestic sponsorship) — and the gross amount is $2.8 billion, a remarkable achievement for domestic sponsorship,” Coates said.

The London 2012 Games raised about $1.1 billion, while Rio de Janeiro in 2016 had claimed it had slightly surpassed London, but final accounts are sketchy given the current investigations for corruption linked to Olympic Games projects in Brazil.

Tokyo struggled with preparations after being awarded the Games in 2013, having to scrap expensive plans for a new stadium, sharply reducing a ballooning budget last year from more than $26 billion to $16.8 billion and dealing with a number of environmental issues.

“We are very impressed with the quality of the team. We are confident that their (Tokyo 2020) project will impress the world and bring new audiences, especially with the addition of new sports.”

The IOC approved the inclusion of skateboarding, sport climbing, surfing, karate and baseball/softball at the request of organisers in an effort to attract a younger generation of viewers.

Reporting by Karolos Grohmann,; Editing by Neville Dalton

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