All sponsorship deals from Japanese companies with the organization of the Olympic Games in Tokyo have been extended.
These are 68 companies that remain loyal to the sporting event, which has been postponed by one year to the summer of 2021 due to the corona pandemic.
“We recently reached an agreement with all domestic partners to extend their contracts for the Tokyo Games in 2020 to 2021,” said Yoshiro Mori, chairman of the organizing committee. “As 2020 draws to a close, we would like to thank them again for their continued support.”
The organization can use financial support well because the Games’ costs have increased by 2.5 billion pounds to 13.5 billion pounds due to the postponement. The corona measures, in particular, are an extra burden on the budget.
The costs of the Games had already risen sharply before the corona crisis. At the allocation in 2013, Tokyo still assumed costs of 6.9 billion pounds.