A pedestrian wearing a face mask walks past a poster of the 2020 Tokyo Olympic and Paralympic Games ... [+]
Topline: Japanese officials pushed back Wednesday on a comment made by International Olympic Committee member Dick Pound, who said the Tokyo Olympics could potentially be canceled due to the ongoing coronavirus outbreak, while Japan considers pausing sporting events for two weeks to curb the disease’s spread.
- According to Nikkei Asian Review, Japan’s chief cabinet secretary Yoshihide Suga said during a Wednesday press conference that the Olympics will be held as planned in July.
- "We would like to prepare steadily for the event, including offering information abroad regarding our measures against the spread of the coronavirus," Suga said.
- Suga’s comment contradicts a statement made Tuesday by Pound, who told the Associated Press “you’re probably looking at a cancellation” if the IOC decides it’s too much of a risk for the Olympics to take place.
- Pound said that there are too many logistics for the Games to be postponed, citing professional league schedules, television and media schedules, along with other “moving parts” that make that option impractical.
- The possibility of relocating the Games to another city such as London has been floated, along with splitting the competition up across different locations, but Pound said there not enough time to make those viable options.
- Sponsors could lose out financially, according to Nikkei, which cited analysts that said there would be little recourse for sponsors to recoup their money if the Olympics get canceled.
Big number: Between $12.6 billion to $25.2 billion. That’s how much Japan has spent to build facilities and prepare for the Olympics, according to CBS News. If the Olympics were delayed by a year, Japan would have to wait that much time before making any money back on their investment.
What to watch for: How the coronavirus outbreak progresses. As of Tuesday, the World Health Organization reported that Japan had 157 confirmed cases. Across the world, over 2,700 people have died and more than 80,000 have been sickened. The 2016 Games went on in Brazil despite the Zika virus outbreak.
Key background: Pound, an IOC member since 1978 and former Canadian swimming champion, told the AP that “as far as we all know” the Olympics will kick off in Tokyo as scheduled. The IOC also has a $1 billion emergency fund to help organizations that depend on revenue from the Games in order to survive, according to CBS. Japanese prime minister Shinzo Abe called for parliament to suspend sporting and cultural events for two weeks, saying that period of time is “extremely important in stopping the spread of infection.” Globally, coronavirus has negatively impacted markets, travel, and various businesses, with airlines and cruises canceling trips and stores shuttering their doors to stem the spread of the disease.
Tangent: Tokyo was supposed to hold the Olympics in 1940, but it was cancelled because of World War II.
