Olympic<\/em><\/strong> website, he said: “This is a first in our long Olympic history, and it is an immense task for the IOC, our Japanese partners and friends, and all the members of our Olympic community.<\/p>\n\n\n\n“This new situation will need all our solidarity, creativity, determination and flexibility. We shall all need to make sacrifices and compromises. <\/p>\n\n\n\n
“Extraordinary circumstances call for extraordinary measures. This situation requires every one of us to do our part, and this applies to all of us, including the IOC.”<\/p>\n\n\n\n
On the cost of postponing the Games, Bach added: “For our part, we have made it clear that the IOC will continue to be responsible for its share of the operational burden and its share of the costs for these postponed Games, under the terms of the existing agreement for 2020 that we have with our Japanese partners and friends.<\/p>\n\n\n\n
“Although it is too early to give an exact figure, we already know that we have to shoulder several hundred million US dollars of postponement costs. <\/p>\n\n\n\n
“This is why we also need to look into and review all the services that we provide for these postponed Games.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Thomas Bach says that all stakeholders must work together to give the Games the best chance of taking place in 2021.<\/p>\n","protected":false},"author":2,"featured_media":5055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The International Olympic Committee (IOC) President, Thomas Bach, emphasizes the necessity of \"extraordinary measures\" and comprehensive stakeholder collaboration to ensure the postponed Tokyo 2020 Olympic Games proceed in 2021. He acknowledges the significant financial burden, estimating several hundred million US dollars in postponement costs, which the IOC will partially absorb while reviewing operational services.","focusai_entities":"Thomas Bach, International Olympic Committee (IOC)","focusai_location":"Japan, Tokyo","focusai_target_profile":"ceo_executive (0.9), investor_analyst (0.85), journalist_researcher (0.8), regulator (0.7)","focusai_suggestions":[{"label":"IOC Financial Impact?","query":"What is the projected long-term impact on the IOC's financial reserves and future event funding models, considering the multi-hundred-million-dollar postponement costs?"},{"label":"Stakeholder Governance?","query":"How will the IOC's existing governance frameworks be adapted to ensure equitable burden-sharing and accountability among all international and local stakeholders for the revised 2021 operational plan?"}],"footnotes":""},"categories":[160,161,16338,155],"tags":[12506,12507],"class_list":["post-6130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-sports-betting-news","tag-olympic-games","tag-tokyo-2020"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6130"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6130\/revisions"}],"predecessor-version":[{"id":777008673,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6130\/revisions\/777008673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/5055"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}