The IOC postponed to 2021 the Olympic Games in Tokyo because of the coronavirus

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After last Sunday, jumped the news that the International Olympic Committee (IOC) had given a within four weeks to rethink the future of the JJ.OO. because of the health crisis of the coronavirus on Tuesday, January 24 the agency has reported that, finally, the competition is postponed until 2021.

The Olympic Games, suspended by the coronavirus

The Olympic Games, suspended by the coronavirus

Has not passed if you want to a week since the first announcement of the IOC, who was quite reluctant to that the games would have the outcome that you have finished taking. It seems, therefore, that has been the pressure of the japanese prime ministerShinzo Abe, which has precipitated the decision, as the politician has publicly shown his desire to the games aplazasen. In addition, countries such as Australia, Canada, Poland, Iran, Switzerland, Portugal and the united States had threatened not to send their athletes if you do not delay the competition.

The statement has occurred from the hands of the president of the IOC, Thomas Bach, but it is expected that this afternoon the executive of the agency to have a emergency meeting to give official status to this postponement. Meanwhile, the governor of Tokyo, Yurike Koike, has confirmed that the name of the games will be Tokyo 2020, despite being held in 2021.

Consequences for the IOC

The postponement is as much of a problem for Tokyo as for the IOC, since both will experience serious economic losses. The city nippon, for its part, had arranged insurance to cover any tragedy, as it is this health crisis, but is located with a tether unexpected: the sale of apartments of the olympic village in particular, they expected to go live in 2023. Missed deadlines could lead to a demand on the part of those affected, which would not be contemplated within the insurance who are hired for the games.

Meanwhile, the IOC had already sold the exploitation of rights audio-visual of the games, which accounts for the greater part of their benefits. The strings contracting, as tenants, will be able to sue the organization for breach of time limits and claim, to part of your invested money, compensation. And is that, even if they enjoy the product in a year, the operators had already sold their advertising space, making everything in the whiting that bites the tail.

For to know in depth the economic impact of the cancellation of the Olympic Games, visit here for our special on the topic.