Tokyo 2020 domestic sponsor revenue at record US$2.8 bln
LIMA: Domestic sponsorship for the Tokyo 2020 Olympics has so far reached a record US$ 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) conf irms the very posit ive 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.
“Fo r t y- t hr e e dome st i c partnerships – that’s three times their initial budget (of around US$1 billion for domestic sponsorship) – and the gross amount is US$ 2.8 billion, a remarkable achievement for domestic sponsorship,” Coates said.
The London 2012 raised about US$ 1.1 bil lion, whi le 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 US$ 26 billion to US$16.8 billion and dealing with a number of environmental issues. — Reuters