TOKYO: The official cost of the postponed Tokyo Olympics has increased by 22 percent, the local organizing committee said Tuesday in unveiling its new budget.
In an on-line news conference, organizers said the Olympics will now cost $15.4 billion to stage. This is up from $12.6 billion in last year’s budget.
The added $2.8 billion is the cost of the one-year delay. Added expenses come from renegotiating contracts and measures to combat the COVID-19 pandemic.
The Olympics are to open on July 23, 2021. The Paralympics follow on Aug. 24.
Audits by the Japanese government over the last several years, however, show the costs are higher than officially stated and are at least $25 billion.
Tokyo said the Olympics would cost about $7.5 billion 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 $6.7 billion 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.
Waldenberger noted that the Tokyo city government and branches of the central government use the Olympics as “a window of opportunity to obtain additional” funding.
Organizers in October announced cost reductions of $280 million, cutting out frills including hospitality offerings. However, no cuts have been made to the sports program with a full complement of 11,000 athletes and tens of thousands of officials, judges, and sponsors expected to attend.
Decisions about fans and preventive measures for the pandemic are expected to be rolled out in 2021.
Japan has controlled COVID-19 better than most countries with just over 2,800 deaths attributed to the virus. But new cases have been rising for a month, adding to public skepticism about the Olympics.
In a telephone poll of 1,200 published this month by Japanese broadcaster NHK, 63 percent said the Olympics should be postponed or canceled. On the opposite side, 27 percent said the Games should be held. The poll was conducted on Dec. 11-13.
The IOC and local organizers have said the Olympics will be canceled if they cannot be held this time.
Local organizers are trying to recover some of the rising costs by coaxing more revenue from domestic sponsors. About 70 sponsors have already contributed a record of $3.3 billion, driven by Dentsu Inc. the marketing agent for the Tokyo Olympics.
The Nikkei newspaper reported last week, citing unnamed sources “familiar with the matter,” that 15 top-tier domestic sponsors will add an estimated $150 million to their contributions. It said Japan Airlines, the airline ANA, and the Tobu Skytower were considering contributions.
Nikkei is also a Tokyo Olympic sponsor along with Japan’s other leading newspapers Yomiuri, Mainichi, and Asahi. Several regional papers are also sponsors.
“We would like to increase revenue more than expected although it is challenging,” Gakuji Ito, the organizing committee’s chief financial officer, said.
Ito said insurance coverage might pay out up to $500 million to help cover increased costs.
All expenses that the organizing committee cannot cover will fall to the Tokyo Metropolitan Government, Ito said.
The budget shows the Switzerland-based International Olympic Committee is contributing $1.3 billion to cover costs of the games. Its contribution to Tokyo will not increase, Ito said.
Ito was asked if he would seek more money from the IOC.
“No, we are not thinking about it,” he replied.
The IOC’s finances are stressed. It generates 91 percent of its income from selling broadcast rights and sponsorships. The postponement of the Tokyo Olympics has stalled its revenue flow, increasing the importance of staging the Olympics in Tokyo.
The Beijing Winter Olympics are open six month after Tokyo closes, on Feb. 4, 2022.
The IOC is also under pressure to support national Olympic committees and international sports federations, many of which rely heavily on IOC contributions.
Official cost for postponed Tokyo Olympics up by 22% to $15.4 billion
https://arab.news/bmvpx
Official cost for postponed Tokyo Olympics up by 22% to $15.4 billion
- A University of Oxford study earlier this year said Tokyo is the most expensive Summer Olympics on record
Indian walks from Dubai to Riyadh hoping to meet hero Ronaldo
- “I pray to God to make this dream come true and meet Ronaldo”
JEDDAH: A Cristiano Ronaldo superfan has arrived in Riyadh after a grueling walk from Dubai hoping to meet the Al-Nassr star.
After 1,200 km and 36 days of travel mostly across the arid landscape separating the cities, Civin KP arrived in the Saudi capital.
“Finally, I am here in front of Al-Awal Park where Al-Nassr plays (their) official games and I hope I can meet Ronaldo,” he said.
He posted images of himself on Instagram at the stadium where he managed to take a seat at the home team’s bench and walked pitch-side at the 25,000-capacity venue.
“I came all the way from Dubai on foot and crossed all this distance just to pay respect and show my love to the best player in the world,” said Civin, who is originally from the state of Kerala in India.
Ronaldo is one of the most recognizable faces of international football and has fans across the world who enjoy his skills and passion for the game. He signed for the Riyadh club in 2022 after years of playing in Europe’s top leagues.
Civin feels proud to have completed the journey but still awaits the biggest prize.
“The unexpected moment is always sweeter,” he wrote, “hopefully waiting for more.”
A photo with the Portuguese great and an autograph would be a moment of a lifetime, Civin told MBC as he visited the ground.
“I pray to God to make this dream come true and meet Ronaldo,” he said. “I will cherish this moment, if it happens, for the rest of my life.”
On Friday, Civin was able to secure a ticket to watch Al-Nassr beat Al-Fayha 3-1, but unfortunately his hero did not feature as he is serving a suspension.
KL Rahul shines as Lucknow Super Giants beat Chennai Super Kings in IPL
- Innings played key role in pushing Lucknow past Chennai’s 176-6 with six balls to spare.
LUCKNOW: KL Rahul’s solid 82 runs off 53 balls helped Lucknow Super Giants comfortably beat Chennai Super Kings by eight wickets in the IPL on Friday.
Rahul’s time at the crease, which saw him smash nine fours and three sixes, played a key role in pushing Lucknow past Chennai’s 176-6 with six balls to spare.
“I felt that if we bat well, we could chase it down... when your partnership goes on, you can take a few more chances. Glad that it happened,” said Rahul.
Chennai got off to a slightly jittery start after being invited to bat first, losing Rachin Ravindra (zero) and skipper Ruturaj Gaikwad (17) in the first five overs. Ajinkya Rahane looked to steady the side, with the help of Ravindra Jadeja, but fell in the ninth over after racking up a respectable 36 runs off 24 balls.
Lucknow’s clinical bowling restricted Chennai in the middle overs, with Shivam Dube (three) not being able to pop off.
But Jadeja soldiered on for the rest of the game, getting his half-century in the seventeenth over.
Reliable warhorse M.S. Dhoni, who smacked 28 runs off 9 balls, helped Chennai turn up the heat in the last three overs and pushed the team to 176-6.
Lucknow openers Quinton de Kock and KL Rahul set up the chase with a superb 134-run partnership, before de Kock, who hit five fours in his 43-ball 54, fell in the fifteenth over.
Rahul went onto smash an incredible 82 runs off 53 balls before being dismissed in the eighteenth over. A final push by Nicholas Pooran (23) helped seal the victory for Lucknow.
“We lost wickets regularly and were 10-15 short,” said Gaikwad.
“Good to play them again soon, will come back with homework done.”
Saudi Arabia’s PIF signs sponsorship deal with Mutua Madrid Open tennis tournament
- Agreement is latest in wider partnership with the ATP
LONDON: Saudi Arabia’s Public Investment Fund announced on Friday it had agreed a multi-year deal to sponsor the Mutua Madrid Open tennis tournament.
The deal is the latest in PIF’s wider tennis partnership with the Association of Tennis Professionals as a Platinum Partner and as the official naming partner of the PIF ATP Rankings.
The fund said the agreement marked its continued investment in growing tennis globally, along with a wider focus on its four sponsorship pillars: inclusivity, sustainability, youth, and technology.
As part of the partnership, PIF will develop a platform to allow tennis fans new and old to engage and train with legendary players and coaches on the ground in Madrid, and youth-focused fan zones.
A statement said: “PIF is committed to providing opportunities for young players across all levels of the game, inspiring participation, enhancing talent discovery and developing new pathways for future generations of tennis players around the world.
“As part of this priority, PIF is engaging local tennis academies in Spain and supporting future players through the PIF tennis bootcamp.”
PIF has also partnered with ATP Masters 1000 events in Indian Wells, Miami and the Nitto ATP Finals, in addition to the Beijing ATP 500 event, and the Next Gen ATP Finals presented by PIF, to be hosted in Jeddah until 2027.
John Catlin sets himself up for victory going into final round of Saudi Open in Riyadh
- American shoots men’s course-record 62
RIYADH: John Catlin continued his dominance at the 2024 Saudi Open on Friday as he shot a men’s course-record 62 to open up an eight-shot lead at the top of the leaderboard at Riyadh Golf Club.
The American began the third round one shot ahead of Scott Hend and Haotong Li and signaled his intentions early with two birdies in his first five holes.
It was a special back nine that saw him pull away from the field as six birdies, including two in his final two holes — which also earned him the PIF Moment of the Day — put him in the driving seat for a sixth Asian Tour victory.
Thai favorite Kiradech Aphibarnrat made the biggest move of the chasing pack and will head out with Catlin in the final group on Saturday.
His round of 67 moved him into second place with Wade Ormsby, David Puig, Hend and Li one further back.
If he is victorious on Saturday it will mark back-to-back wins on the Asian Tour for Catlin after he lifted the International Series Macau trophy in March, but the 33-year-old is taking nothing for granted ahead of the final round.
He said: “My game has felt in good shape. Today was just one of those days where the putter just gets hot and it’s like you can’t miss. I kept going and tried to make as many birdies as I could because there are so many good players out here and there are plenty of birdies to be made tomorrow. I knew I had to keep the pedal to the metal.
“Nothing changes tomorrow: the job is not finished. David (Puig) has shown he can shoot some really low numbers and there are a lot of other guys very capable of doing that here.”
It is Catlin’s second trip to Saudi Arabia but his first to Riyadh, and after his record-breaking day he admitted he will be back in the Kingdom whenever he gets the chance.
“I’ve loved it here. The people have been so friendly to me, the facilities are really good and I love the course. I will be back whenever there is a tournament here,” he said.
South African Jaco Ahlers produced the day’s second-best round with his 65 moving him to 7 under par, while LIV Golf star Peter Uihlein catapulted himself up the leaderboard after four birdies in four holes to start his back nine took him to the same score. Uihlein is looking forward to an attacking final round.
He said: “You’ve got to shoot 10 under tomorrow to win — I’m going to try. Hopefully my caddie will let me hit the driver on some holes where I probably shouldn’t, and just have a go.
“I played nicely on the front, but it was a different wind. I felt like the back nine, with the way the wind was, is easier than the first couple of days, so I thought I could make some birdies. I didn’t birdie the 15th or 18th hole, which is disappointing.”
Moroccans Othman Raouzi and Ayoub Lguirati, the two invited Arab golfers who managed to make the cut, endured difficult days and both sit over par heading into the final round.
FIA President Mohammed Ben Sulayem receives Arab and MENA backing
- Statement condemns “false allegations” of interference in sporting decisions during 2023 Formula One season
DUBAI: The FIA Members for Sport for MENA region and Arab Council of Touring and Automobile Clubs sub-region have released a statement of support for FIA President Mohammed Ben Sulayem against what they see as “false allegations” of interference in sporting decisions during the 2023 Formula One season.
“Knowing that Mr. Mohammed Ben Sulayem has been committed to promoting transparency within the FIA since he was elected president of the FIA, his full co-operation with the FIA Ethics Committee and the Compliance department during the 30 days of investigations is highly regarded,” the statement said.
“The Ethics Committee were unanimous in their determination that there was no evidence to substantiate allegations of interference of any kind involving the FIA President Mohammed Ben Sulayem and strong evidence beyond any reasonable doubt was presented to support the determination of the FIA Ethics Committee.”
The statement said that the FIA president was cleared of any wrongdoing over allegations he interfered with the stewards’ decision at the Saudi Arabian Grand Prix 2023, and cleared of any wrongdoing regarding allegations that he attempted to interfere with the track certification process for the Las Vegas Grand Prix 2023.
The statement continued: “The FIA Members for Sport for MENA Region and ACTAC Sub-Region condemn, and at the same time are profoundly disappointed with the unjust and relentless attempt to undermine the integrity of the FIA Leadership by such unfaithful allegations to serve narrow personal agendas, and we strongly encourage the FIA administration to initiate legal actions against those responsible for those allegations against the FIA President.
“We are confident that Mr. Mohammed Ben Sulayem will continue to serve the FIA and its Members in a transparent manner implementing the FIA Code of Ethics as top priority.
“We also would like to assert our support to Mr. Mohammed Ben Sulayem’s leadership of the FIA and will continue our co-operation with him in his efforts to serve and develop the FIA and its Members,” it said.
