TOKYO (AP) — Organizers of the Tokyo Olympics estimate the total cost of hosting the 2020 Games will be between 1.6 and 1.8 trillion yen ($13-$15 billion).
The official cost estimate announced Wednesday was below the promised 2 trillion ($17 billion) cap, while organizers said they will try to come down further.
“This is Version 1,” said Toshiro Muto, chief executive officer of the organizing committee. “We will continue our cost-cutting effort toward our Version 2.”
Details of cost-sharing among the three parties — the organizing committee, Tokyo and central governments — can be now worked out, Muto said.