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Printed on Might 28th, 2022

The Worldwide Olympic Committee (IOC) paid just in excess of $17 million (£13.5 million/€15.8 million) to get cancellation insurance plan for the postponed Tokyo 2020 Video games.

This amounts to an boost of 18 for each cent more than the $14.38 million (£11.4 million/€13.4 million) the IOC compensated for very similar safety for the prior Summer time Olympics in Rio de Janeiro in 2016.

This was a a great deal more compact quadrennium-on-quadrennium soar than the Lausanne-dependent system faced for insuring the Wintertime Online games.

While the top quality paid out to deal with for the Sochi Wintertime Game titles in Russia in 2014 was $7.565 million (£6 million/€7 million), the fee paid for protection for Pyeongchang 2018 leapt by 69 per cent to $12.8 million (£10.15 million/€11.9 million).

The create-up to the 2018 occasion coincided with a time period of heightened geopolitical tensions in and close to the Korean peninsula.

The Tokyo payment provides to just less than $30 million (£23.8 million/€28 million), the sum expended by the IOC on cancellation insurance coverage all through the COVID-impacted 2017-2021 Olympic cycle. – Full report

Tags: IOC, Tokyo 2020 Video games