Tokyo 2020 domestic sponsor revenue at record $2.8 billion
Greece to grant permits for Eldorado Gold’s Olympias project this week
LIMA, Sept 13, (RTRS): Domestic sponsorship for the Tokyo 2020 Olympics has so far reached a record $2.8 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.
Meanwhile, Greece’s Energy Minister assured protesting Eldorado Gold workers on Wednesday that it would grant outstanding permits this week to enable the Canadian miner to fully operate one of its Greek projects.
Eldorado Gold threatened on Monday to suspend investment at three Greek projects, demanding permits and clarifications on an upcoming arbitration process. Dozens of Eldorado Gold workers rallied outside the energy ministry earlier in protest at potential job losses.
Differences over the investment, one of the biggest in Greece in years, have dragged on for years, especially over compliance with environmental regulations, testing Greece’s resolve to encourage foreign investments.
The company said on Monday that no additional investment would be made into Olympias and Skouries projects and the Stratoni mine from Sept 22, only days after the leftist-led government urged investors to show confidence in Greece as it emerges from crisis.
“Licensing for Olympias ... will be concluded in the coming days, today and tomorrow,” Greek Energy Minister George Stathakis said in an effort to difuse tension. “Three permits will be issued as we announced in August, allowing Olympias to be fully operational.”
Eldorado spent about 2 billion dollars to acquire the Greek asssets in 2012 and has invested over 1 billion dollars in developing them. It says it employs about 2,000 people in Greece, where unemployment stands at 21.2 percent, the euro zone’s highest.
About 100 workers, in yellow vests, rallied outside the ministry early on Wednesday unfurling a banner reading “Occupation” in front of a police cordon. Some of them stormed into the building, according to one police official.
Police later fired some rounds of tear gas to disperse them.
Eldorado’s Greek unit Hellas Gold welcomed Stathakis’ comments:”We are pleased to hear the minister’s comments although we’ve not received any permits yet. We look forward to receiving the outstanding permits for both Olympias and Skouries soon.”
Eldorado’s plans to develop its mine operations in the northern region of Halkidiki have provoked violent protests by locals who fear they will ruin a landscape of pristine beaches and lush forests.
It is sensitive for Prime Minister Alexis Tsipras’ Syriza party, which strongly opposed the investment before coming to power in 2015. His government now says it wants the project as long as it is “environmentally and economically sound”.
Stathakis said on Tuesday the ores that will be produced will contain arsenic, which will well exceed accepted levels, and therefore the government should make sure the company fully abides by environmental rules.