The officials of the Tokyo Olympic officials said on 24th December, Thursday that they have reached at a point for the basic agreement with all the 68 domestic sponsors in order to extend their contracts to the next year for supporting the postponed Games. The Japanese domestic sponsors have contributed to the local operating budget with a record with around $3.3 billion.
This amount is at least twice as large as any of the previous Olympics and it is driven by the Dentsu Inc, which is the giant Japanese advertising company. This company is also the marketing agent for the Tokyo Games.
The Officials did not immediately gave the terms of the extensions during an on – line briefing nor did they say about the financial details. They said that the contracts were still being finalized.
Nikkei which is the the Japanese newspaper reported earlier during this month about the citing sources which are close to the matter. They said about the top 15 Gold Partners would help and contribute around an added 1 billion yen each. That will add up to around $10 million each.
Some of the famous and well – known named like Canon, Fujitsu and also the Mizuho Financial Group are also included in the Gold Partners.
Nikkei is also one of the domestic sponsor. This is along with other dailies which includes Asahi, Mainichi and several other smaller newspapers.
Other Sponsors the like the airline ANA and also the Japan Airlines, they are also among others who are struggling during the pandemic, they were also contributing and were also reported.
The organizers of the Tokyo Olympic had announced earlier during this week about their new budget. They said about their postponement and also about the cost which will take place for holding the Olympics during this tough times of the pandemic. They further said that the budget has increased by around $2.8 billion, they also said that it is pushing the official cost to $15.4 billion.
A government audit over the last many years has shown and told that the total is probably closer to around $25 billion. They said all but the $6.7 billion is public money.
The Tokyo officials said that the Olympics and organising it would cost near to about $7.5 billion after they got to win the bid in the International Olympic Committee in the year 2013.
Sponsors are also being asked to make up some of the shortfall in the finance. However, they said that most of the cost which are overruned will be meeting the Japanese government entities.
It is said that the postponed Olympics are about to open on 23rd July, 2021 which is then followed by the Paralympics on 24th Aug.
Japan has contained and handled the COVID-19 situation better than most of the countries ever did, and there are saying among the public about inviting the 15,000 Olympic and the Paralympic athletes into the country for the games.
Although the vaccinations and it’s dose are not expected to be widely available for the people in Japan until the month of March.
It is expected from the officials to decide about the numbers including tens of thousands of officials, the judges, the sponsors and also the media, but not mentioning the fans from the abroad if they are allowed to enter and also take preventive measures as soon as it is possible in the upcoming next year.
A telephone poll was conducted by Japanese news agency named Kyodo and it showed the poll of this month with around 1,200 participants want the Olympics to be postponed or canceled.