Final Tokyo Olympic budget soars 22% to ¥1.64 trillion

The Olympics is a massive con job.

The Japanese tax-payer is funding endless rounds of meetings, lawyers, politicians and bureaucrats to line their pockets.

It seems some new Olympic records will be set, just not by the athletes!

Munich, Montreal, Moscow and it seems, Tokyo. When will officials learn that the hosting the Olympics can have horrible downside risks.

Final Tokyo Olympic Budget until the next 'Final Tokyo Olympic Budget' is announced.

In the end, there will be no 2020/21 Tokyo Olympics and the legacy left will be the debt the Japanese tax payers will be burden with and wish they could forget.

A huge waste of tax payers money. The Olympics is a con. Every single event including LA (they fudged the numbers) has lost billions, yet every bidding city always claims its good for the economy. Well, it IS good for a few selected construction companies and media outlets (Dentsu do quite well too) but overall its a financial disaster.

Just think how this money could have been used.

I really hope its turns into a total disaster so that the people of Japan can finally realise that they have been had.

A huge loss that could have been avoided instead of following it off a cliff. They should have cancelled

As it is said "Japanese never stand up." I wonder why Japanese people who oppose holding the Olympic do not stand up and say cancel the Olympic.

ANA is hurting from the pandemic and putting employees out to pasture and ruining their livelihood, but they have money to spend on this? United by Emotion, damn right....disgust and outrage!

The Olympics is a con

Yes, this ^^^ is all anyone need to say.

For the skeptics, just look at the trail of destructions from Athens to Rio.....and beyond.

More losses than gains financially. It will also become heavy burdens for medical workers and heightens anxieties of the population about the spread of the endemic. I cannot figure out merits of holding the Olympics.

And Mori still can’t remember to wear a mask!

Audits by the Japanese government over the last several years, however, show the costs are higher than officially stated and are at least 2.5 trillion yen.

Tokyo said the Olympics would cost about 750 billion yen when the IOC awarded the games in 2013. A University of Oxford study earlier this year said Tokyo is the most expensive Summer Olympics on record.

Japanese government entities are responsible for all of the costs except for 700 billion yen in a privately funded operating budget.

“The IOC and TOCOG (Tokyo organizing committee) want the public budget to appear as small as possible not only to guard against public criticism, but also to not discourage future candidate cities,"Franz Waldenberger, director of the German Institute for Japanese Studies in Tokyo, wrote in a recent paper examining Olympic costs.

So the true costs are apparent for everyone to see, and will be borne by the government (taxpaying public), but we are going to just continue to quote the lower figures in public forums and the media for appearences, confident that this discrepency will never be questioned.

Sounds like a winning tactic, would be nice to use throughout life in business and legal affairs.

eh, it's only money, think of the poor old IOC delegates who have to put up private jet travels, 5 stars lodging, limousine transfers, and kaiseki in between 3 michelin stars digs.

And Mori’s wage soars by 22%

Tokyo said the Olympics would cost about 750 billion yen when the IOC awarded the games in 2013. A University of Oxford study earlier this year said Tokyo is the most expensive Summer Olympics on record.

Even this would have been insane! These Olympics have been another money grab for businesses and politicians.

Folks may remember, back before Koike, and then when she got elected, Tokyo was saying "no,no,no," because Tokyo was a cash cow that the national government wanted to tap to pay for it.

Damn if they didnt just "tap" that cow, they close to putting it on life support!

There was no question it wouldn't increase. Things are going as planned by the powers that be. We peasants pick up the tab, as usual.

What is so annoying about this is that I like sports and international competitions, but the sheer insanity (for lack of a better word) of these Olympics is making me passionately hate both.

Japanese government entities are responsible for all of the costs except for 700 billion yen

Correction: Japanese taxpayers, their children and their grandchildren yet unborn will be squeezed until their pips squeak for all of the costs except for 700 billion yen.

What a grotesque boondoggle this is. I'm old enough to remember when we were told that this white elephant had been awarded to us a) because of the economical nature of the bid and b) because it would be the white knight saviour of the Japanese economy, which would bloom and grow forever when foreign visitors fell in love with Japanese culture.

Remember when we didn't have enough money to invest in pensions, or daycare for working mothers? Two weeks of running and jumping will wipe out any hopes of investment in those REAL needs for generations.

This is a crime.

Thats about 120,000 Yen per Tokyo resident. You could make 20 million gold medals for that price.

"United by Greed"

Mr. Mori,

It must be nice to get high paying job in your late 70s when so many able people in Japan with a much higher mental acuity can't even get one past 65.

And the kicker is, Japan will probably be one of the bidders for one of the next winter Olympics!

Someone's definitely making bank off taxpayers. Time for them to cut their losses and ditch the Olympics.

Boycott the Olympics in your personal lives, that's what I'm doing. If everyone did this they'd soon get the message how angry we are at this financial outrage.

I solemnly swear these Olympics are dead to me, and I will not watch one minute of them, buy any merch, or even discuss them with friends and family.

Mori looks almost lifelike.

...due to rampant ageism.

Keep taking it Japan, it won't change until you do.

This budget is an absurd lie and fabrication to allow Dentsu to collect more money from sponsors and government institutions. I challenge the IOC to let me comment on the detailed expenditures. The budget for the postponement should never be higher then 200 million USD.

Most of the facilities being built have no fundamental demand and will need to be propped up with extra cash in the years ahead. This will be tens of millions of USD every year, and will happen regardless of whether the Olympics goes ahead or is cancelled.

Some schools and community centers remain shut down and businesses have had their hours curbed in Hokkaido because of Covid but, hey, the Olympics must go on. As for me, I plan on recouping some of my lost wages by designing toilet paper with the faces of IOC members and JOC members printed on each sheet. It will be nice to know that when I use it that they are getting their faces rubbed in something they deserve.

So, now FOUR times the amount they promised for the "compact, economic" Games. And the postponement is just an excuse.

Around ¥130,158 for every man, woman and child in Japan. Well spent...not !

The Simeon leader looks like a Yoda wannaB. When will these dinosaurs quit?

What a mess. Pass the Wakizashi already

Who was it who was talking about "moribund"? Well I see at least one Mori-bund in the photo.

Ohhhh here it is, 22% more money and that is not going to be the end of it, they will be asking for more very very soon!!!! Because they must have this shitshow at any cost!!!!

Waste of money, they should use that money to help the people financially affected by the scamdemic. Why do they insist on having their cheerless, masked, watered-down down games? The level stupidity and stubbornness of the IOC and the local organisers is unbelievable.

Are you kidding me?

Postponing by 4 years, as well as the following Olympics in Paris and Seattle could have been done. beyond contractual , maintenance of venues, etc. Which at the end would have cost a lot .

But this also would have meant no Olympics chance for some athletes.

In an on-line news conference, organizers said the Olympics will now cost 1.64 trillion yen ($15.4 billion) to stage. This is up from 1.35 trillion yen ($12.6 billion) in last year’s budget.

To have committed such a sum to a sporting/event festival, to be fair, without prior warning, or hard evidence that this pandemic would rage out of control, then have to justify such a sum, is simply abhorrent.

There is simply no logical justification or monetary or fiscal reasoning. Investment prioritization needs to focus on the health and welfare of the people and refining a COVID-19 vaccine.

Many big events got suspended indefinitely.

Why they had to postpone it for just 12 months without a single clue the situation would get better?

In an on-line news conference, organizers said the Olympics will now cost 1.64 trillion yen ($15.4 billion) to stage. This is up from 1.35 trillion yen ($12.6 billion) in last year’s budget.

That's a lot to spend on something that's not going to happen. There's this expression--throwing good money after bad.

Independent audit earlier in the year estimates the figure to be more than twice this sum. Creative accounting and reporting to conceal the true costs.

Since when has most any Olympic Games been anything other than a money pit put on at mostly public expense to satisfy the egos of the politicians, businessmen, and elitists? The games no longer have a unifying purpose and the athletes are all more or less professionals.

Ashley Shiba: "The governments raise money for Olympics, how about raising monies for all those who are suffering including the most disadvantaged the children who are going hungry at home."

Why would they Japanese government do that when they have already proven they can just use the cause to GET the Olympics, like they did with the Tohoku disasters and atomic bombings, and then not help those sufferers one bit, as was pointed out by the author of a book touching on the subject just yesterday.