There are just over 1000 days until the Opening Ceremony of the 2020 Olympic Games in Tokyo and already domestic sponsorship for the event has reached a record $2.8 billion. John Coates, Head of the International Olympic Committee’s Tokyo Games Coordination Commission, said the sponsorship dollar amount is already 3 times as much as any previous Summer Games.
“The report (of Tokyo 2020) confirms the very positive impression that the co-ordination commission has,” Coates said. “Forty-three domestic partnerships — that’s three times their initial budget (of around $1 billion for domestic sponsorship) — and the gross amount is $2.8 billion, a remarkable achievement for domestic sponsorship.”
For perspective, the London 2012 Games raised $1.1 billion, while Rio de Janeiro’s figures are still under review.
However, costs continue to rise for the actual production of an Olympic Games. We reported in June of this year how the estimated cost of the next edition of the world’s biggest competitive sporting event has ballooned to ¥1.4 trillion ($17.1 billion). As staggering as that figure is on its own, it’s even more revealing when compared to the original Olympic bid cost estimate of ¥730 billion ($8.9 billion).