On Tuesday, Japanese Prime Minister Shinzo Abe and International Olympic Committee President Thomas Bach announced in a joint statement that the Summer Games would be postponed one year amid the novel coronavirus (COVID-19) outbreak. 9 this year, were postponed to 2021 earlier in the day, the first such delay in the Games' 124-year modern history, due to the coronavirus pandemic.
"We are in a strong financial position". Issuing a statement, Prime Minister Abe said: "I proposed to Mr Bach that we postpone the Games for a year. These show that even in a reasonably probable worst case scenario, with appropriate mitigating actions, we expect to remain within the Group's financial covenants, while maintaining headroom under our existing committed facilities".
The New Zealand Olympic Committee released a statement in the wake of the announcement, supporting the decision that was reached. "Based on the current situation, in order to hold a safe and secure Olympics for all those in attendance, and one in which the world's athletes can compete in top condition, we, the hosting nation of Japan, would like the postponement of the Games, for up to a year, to be considered", NHK quotes Abe as saying to Bach, to which the International Olympic Committee official replied he was "in 100-percent agreement".
The International Olympic Committee Athletes' Commission also supported the decision.More news: U.S. delays immigration hearings for migrants in Mexico amid coronavirus
"We are really advancing on our own preparation plan".
It added that Abe briefed Trump on the schedule change and the two leaders agreed to work closely to realise Tokyo 2020 in a "complete" way as proof that humankind has beaten the coronavirus pandemic.
"I was very much looking forward to seeing matches and being part of the Games as a volunteer".
The postponement is a blow to Japan.More news: Saudi king to hold G20 leaders video summit on coronavirus
At the time, a decision had not been made as to when the games would be held, but Pound had also suggested 2021.
If agreement is not reached on who will pick up the bill, it may ultimately need to be resolved by the Court of Arbitration for Sport.More news: Asian shares jump after Dow's biggest gain since '33