Photo by Alex Smith on UnsplashBIZ2020-One Tokyo Olympics Organizers Cut Budget by Nicholas Durst October 8, 2020 The official Tokyo budget for the 2020 — now dubbed the “2020-One” — Summer Olympic Games is $12.6 billion. A national audit conducted last year, showed that the actual cost could be twice as high as what’s been officially reported. A separate study from the University of Oxford published in September said that Tokyo is already the most expensive Summer Olympics in history and this is without the games even being played yet.Organizers for the delayed 2020 Tokyo Olympics estimate they will be able to save about $280 million from the Games’ budget, according to The Associated Press.Tokyo Olympics: What’s to ComeFormer Japanese prime minister and organizing committee president Yoishiro Mori said that the number of parties and receptions for VIPs will be scaled back. This could be a model future Olympic hosts could follow.“Every night somewhere a party is being held,” Mori said, in Japanese. “And almost all the same people are gathered at the parties and receptions. These were reduced in number and scale. Every night a reception was being held, but now it’s not every night. This is going to be a good model for future organizers.”Tokyo Olympic Chief Financial Officer Gakuji Ito stressed that the $280 million savings figure was just an estimate.“How we calculated the cost reductions is something that is unprecedented and it is an initiative no one has ever experienced,” Ito said, translated from Japanese. “From an administrative perspective, we struggled hard.As far as how much money the postponement of the 2020 Summer Olympics is actually costing, both Mori and Gakuji declined to give an estimate.“We are in the process of doing that, calculating that,” Muto said. “We are not able to give you a concrete number as of yet.”A previous AP report estimated that the postponement will cost between $2 billion and $6 billion.Are you excited to see the 2020 Tokyo Olympics played in 2021? Do you actually think the event will happen? Let us know. Post Views: 81The following two tabs change content below.BioLatest PostsNicholas DurstNicholas Durst is a sports media professional who has worked as an on-air personality and producer with the Brooklyn Cyclones, Bleacher Report, MSG Networks, WFAN Radio and MTV. He has experience in TV, radio, social/digital media, short-form and live video across sports and entertainment. He is also a NCAA Division II broadcaster for CSI SportsNet. Nicholas hosts You Know I'm Right, right here on InTheZone.io. Follow him on twitter @Nick_DurstLatest posts by Nicholas Durst (see all) You Know I’m Right, Episode 73: The New York Post’s Marc Berman (Audio/Video) - January 22, 2021 The End Of NBCSN - January 22, 2021 You Know I’m Right, Episode 72: SNY’s Eamon McAnaney (Audio/Video) - January 21, 2021 You Know I’m Right, Episode 71: Sports Broadcaster Lance Medow (Audio/Video) - January 18, 2021 Related Topics2020 Tokyo OlympicsSummer Olympics Newsletter SubscriptionCan't Miss Posts! No Shame in Their Game – Female Mixed Martial Artists Use Onlyfans to Make Money by Brandon Berrios | posted on December 4, 2020 You Know I’m Right, Episode 69: WFAN’s Al Dukes (Audio/Video) by Nicholas Durst | posted on January 12, 2021 The Most Catastrophic Boat Trip Since the Titanic; the New York Giants by John Venezia | posted on October 4, 2020 Women in Sports: NHL Network Host, Jackie Redmond by Nicholas Durst | posted on March 4, 2019 You Know I’m Right, Episode 68: WFAN’s Gregg Giannotti (Audio/Video) by Nicholas Durst | posted on January 7, 2021More in BIZ The End Of NBCSNNBCUniversal will shutter its NBCSN sports network, and move some of its top sports properties to... Michigan Legalizes Online Sports BettingSports betting has been legal in Michigan since the end of 2019, but you... You Know I’m Right, Episode 72: SNY’s Eamon McAnaney (Audio/Video)On the 72nd episode of You Know I’m Right, Nick Durst and Joe Calabrese are joined by... LeBron Aligned with Pepsi and is Leaving Coca-Cola For PepsiLebron is Leaving Coca-Cola for Pepsi: After eighteen long years, LeBron is leaving Coca-Cola... Rutgers Alum and WNBA Legend Cappie Pondexter Feared Missing Alleged Drew McIntyre-Tyson Fury WWE Pay-Per-View Match Halted