Tokyo Olympics must firm up $3.3 bn in sponsor income

Tokyo: Local sponsors have chipped in a record 3.3 billion to support the postponed Tokyo Olympics.

That's at least two times more than any previous Olympics, and it amounts to almost 60% of the income for the privately funded operating budget. Another 14% of the income is budgeted from ticket sales, which could be in jeopardy with empty venues a possibility because of the coronavirus.

With the games delayed for a year, sponsors will be asked to sign up again.

Tokyo spokesman Masa Takaya said talks would begin next month.

We are planning to start sitting together with those companies, including the arrangement and content of the contract, in the very near future, Takaya said in an on-line briefing with reporters.

A poll published earlier by Japanese broadcasters NHK said two-thirds of sponsors are undecided about extending for another year. Asianet Online