SM
Liverpool vs. Wolves: 1 hr 15 mins
Upcoming predictions and previews

Olympics postponed: IOC decision should limit financial losses

:Headline: Olympics postponed: IOC decision should limit financial losses: ID:394063: from db_amp
Experts do not expect the IOC to be hit with demands for money back.

The decision to postpone this summer's Olympic Games due to the coronavirus pandemic will come at some cost, but the International Olympic Committee is unlikely to suffer heavy losses as a result of the delay.

The postponement until not later than summer 2021 means that in many cases plans will be mothballed, and industry experts do not expect the IOC to be inundated with demands for money back as the Games are only being deferred, not dispensed with.

"Provided the event takes place, the broadcast partners get their three weeks of programming," Michael Payne, the IOC's former head of commercial, told the PA news agency.

The Olympic venues will still be used next year (Jae C. Hong/AP)

"You may be dealing with a little bit of re-engineering on the margin, but nothing of substance."

Sean Maguire, the managing director of Oliver & Ohlbaum, which advises and supports the sports sector on the negotiation of rights deals, said: "A lot of the deals (the IOC) has done go out as far as 2032, so they see themselves as partners, rather than as supplier/customer.

"So I think they will have been talking about 'what does 2021 look like?' and what do we need to avoid clashing with, and therefore where can we put it in the schedule, rather than how much money are you going to pay us?"

Maguire is also confident the decision to postpone will not make Olympic television rights a harder sell in future.

"I don't think so – it's still the Olympics, it's still the biggest show in town. Cricket's been rained off every summer, but cricket still sells," he said.

"Sponsors lose some exposure but this cycle they have paid for will be extended for a year, so they get to be the official partner of the Olympic Games for an extra year, and I doubt they'll be paying any extra for it."

The venue build costs for Tokyo have been placed at up to 15 billion US dollars (£12.77bn), but the plan is still that these venues will be used in 2021 instead.

“It's still the Olympics, it's still the biggest show in town. Cricket's been rained off every summer, but cricket still sells.”
- Sean Maguire, Oliver & Ohlbaum

Venue access agreements will need to be renegotiated by the Tokyo 2020 organising committee, and while the sale of the athletes' village to private firms is likely to remain ongoing, this is not expected to be a problem either as the firms have only just begun selling the apartments and they were unlikely to take possession for a couple of years anyway.

Spending on technology and outfits for Games volunteers, for example, will not have been wasted – just placed on hold.

The operations of the organising committee will of course need funding for an extra year, but it is thought the costs of postponing the Games will be manageable from an IOC perspective.

amp_article__394063 : Database Data restored...  : 
last updated article - 2020-03-24 13:29:29:
html db last update - 2020-03-24 13:29:29 :

ex - 7200 : read : read cache amp html

Coronavirus outbreak - Click here for more stories

Share this article now:
Recommended Next on SM
Premier League Table
TeamPWDLFAGDPTS
1Liverpool24176158233557
2Arsenal25158251222953
3Nottingham ForestNott'm Forest25145641291247
4Manchester CityMan City25135752351744
5Bournemouth25127644291543
6Chelsea25127647341343
7Newcastle UnitedNewcastle2512584233941
8Fulham2510963833539
9Aston Villa2510873538-338
10Brighton & Hove AlbionBrighton2591063838037
11Brentford25104114342134
12Crystal Palace257992932-330
13Everton257992731-430
14Manchester UnitedMan Utd2485112834-629
15Tottenham HotspurSpurs24831348371127
16West Ham UnitedWest Ham2576122947-1827
17Wolverhampton WanderersWolves2454153452-1819
18Ipswich TownIpswich2538142350-2717
19Leicester CityLeicester2545162555-3017
20Southampton2523201957-389
Scroll for more - Tap for full version


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
AL
Sign up for our FREE daily preview newsletter direct to your inbox!

Loading ...

Failed to load data.



. . . . . . . . . . . . . . .