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Tokyo 2020 Olympics

Tokyo Olympics secure $200m in sponsor money to cover delay

Japanese airlines JAL and ANA seen extending support despite virus woes

The Olympic Rings stand in the Japanese capital against a backdrop of the Rainbow Bridge and Tokyo Tower.   © Kyodo

TOKYO -- Corporate sponsors of the Tokyo Olympics and Paralympics are on track to provide an extra 20 billion yen ($192 million) to help pay to postpone the event to 2021, Nikkei learned Friday.

Of the games' 68 Japanese sponsors, the 15 so-called Olympic Gold Partners could provide 1 billion yen each, according to a source familiar with the matter. Terms are being ironed out before existing sponsorship deals expire at the end of the year.

In addition, coronavirus-battered companies like Japan Airlines, All Nippon Airways and Tobu Top Tours are considering extending their deals.

The games were projected to cost 1.35 trillion yen last December, before they were postponed from 2020 as COVID-19 went global.

The Tokyo Organizing Committee estimates that the yearlong delay will result in an additional 294 billion yen in costs, including for wages and pandemic response measures. The committee is scheduled to announce in late December an updated overall budget for the events that reflects additional contributions from sponsors.

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