With still seven months to go for the 2020 Tokyo Olympic Games, the Organising Committee has claimed that revenues without any Government funding have exceeded the expenditure by $ 300 million.
The Organising Committee for the 2020 Tokyo Olympic Games has released the version four of its budget, which shows a contingency fund of $ 300 million.
The biggest chunk of the revenues has come from the local sponsorships, which amount to a total of $ 3.3 billion. IOC contribution and tickets sales come next at $ 800 million each, followed by $ 500 million from TOP Sponsorships, $ 100 million from licensing and another $ 300 million from other sources – all amounting to a total of $ 5.9 billion.
On the expenditure side, the heads are Venue-related budget (1.1 bn), transport ($ 400 mn), security ($ 300 mn), technology ($ 7 mn), games operation ($ 1.2 bn), general affairs and communication ($ 600 mn), marketing ($1.2 bn), 0thers ($ 200 mn) – all aggregating to the service budget of $5.5 bn. Another $ 100 mn on account of discretionary expenses extend the total expenditure to $ 5.6 bn. That leaves the Tokyo 2020 organisers in a healthy financial state with a claimed $ 300 mn contingency fund.
These comprise the “OCOG” budget, which is the responsibility of Tokyo 2020, and the “Other Entities” public budget of the Tokyo Metropolitan Government and the Government of Japan, which includes long term investments for the city and country that will serve future generations for decades to come, as they lead the way in building a more inclusive society – a key legacy of these Games, Tokyo 2020 has reported on its official website.
According to the report, the OCOG revenues are fully privately financed by the International Olympic Committee (IOC), sponsors, licensing and ticket revenues at USD 5.9 billion and exceed the expenditures of USD 5.6 billion. The robust financial position includes a contingency of USD 0.3 billion (JPY 27 billion).
Record marketing activity has resulted in a domestic sponsor revenue increase of $ 300 mn from the previous budget to a total of $3.3 billion, reflecting the widespread recognition throughout Japanese industry of the unparalleled opportunities offered by the Tokyo 2020 Games. Furthermore, ticket sales are expected to increase by $ 700 mn to $ 840 mn. Overall revenues have thus increased $ 300 mn t0 5.9 billion.
Furthermore, due to the race walk venue moving from Tokyo to Sapporo, the expenditures which were borne by the Tokyo Metropolitan Government last year, are now incorporated into the OCOG budget. Pursuant to the transfer between Tokyo and Sapporo, Tokyo 2020 and the IOC are currently discussing about expenditures.