Olympic Games: Price tag for postponed Tokyo Olympics balloons 22% to $15.4 billion

The official cost of the postponed Tokyo Olympics has increased by 22% the local organising committee said in unveiling its new budget on Tuesday. In an online news conference, organisers said the Olympics will cost $15.4 billion to stage, an increase from $12.6 billion in last year's budget. The added $2.8 billion is the cost of the one-year delay including renegotiating contracts and adding measures to combat the COVID-19 pandemic. The Olympics are to open on July 23rd 2021, followed by the Paralympics on Aug. 24th.