Costs for delayed Tokyo Games hit sponsors already facing virus woes

The local organizer of the Tokyo Olympics and Paralympics has started asking its contracted corporate sponsors for additional funds to help cover costs associated with the postponement of the sporting events due to the coronavirus pandemic, sources close to the matter said Tuesday.How to secure extra funding for the postponed Tokyo Games, due to kick off a year from Thursday, has become a major challenge for the organizer, with the additional cost expected to be in the hundreds of billions of yen.The corporate sponsors are facing a difficult decision as the pandemic and subsequent global ec…READ FULL ARTICLE