Olympics: IOC preparing $800 million for postponement costs

International Olympic Committee President Thomas Bach on Thursday said his body is preparing to spend up to $800 million for extra costs necessitated by the one-year postponement of the Tokyo 2020 Olympics.Speaking via teleconference following an online meeting of the IOC's executive board, the first since the opening date for the Tokyo Games was rescheduled for July 23, 2021, Bach said the uncertainty of the new coronavirus pandemic and how it was affecting the Tokyo Olympics in terms of costs but also how it may impact Olympics in the future once the current crisis passes."Nobody knows wh…READ FULL ARTICLE