Geneva:The International Olympic Committee (IOC) confirmed that the Tokyo 2020 Olympic Summer Games achieved a balanced budget."The IOC would like to confirm that thanks to detailed budgetary work, the Tokyo 2020 Organising Committee achieved a balanced budget of JPY 640.4 billion (USD 5.8 billion)," an IOC newsletter announced on Friday.
The IOC said these figures were provided after "a thorough budgeting process that involved the Tokyo 2020 Organising Committee, the Tokyo Metropolitan Government and the Government of Japan"."The budget was presented at Tokyo 2020's last-ever Executive Board meeting as a formal entity in June 2022. These accounts were approved by all stakeholders involved and confirmed by an independent third party audit," it said.
Tokyo 2020 was postponed to 2021 summer due to Covid-19 pandemic and ceased operations and entered its final liquidation process at the end of June 2022.