Today: Last Update:

 
 
 
 
 
 
 
 
 
  • Tokyo Olympic Stadium Cost Finalized at $2 Billion


    07/07/15

    (ATR) The Japan Sport Council (JSC) finalized the budget for the new National Stadium on Tuesday.

    Japanese officials explain the cost of the new National Stadium. (ATR)
    The building plan was finalized at a total cost of $2 billion. Construction will begin in October and will be completed by May 2019, just in time for Japan to host the Rugby World Cup.

    Tokyo 2020 leaders like JSC president Ichiro Kono, Tokyo 2020 president Yoshiro Mori, Tokyo governor Yoichi Masuzoe and Tokyo 2020 Olympic minister Toshiaki Endo attended the meeting. Design contest screening president Tadao Ando was absent.

    About the stadium cost issue, the original forecast was a cost of $1 billion. However, the cost rose to $1.3 billion after Tokyo won the 2020 Games in May 2014. The final cost is double the original.

    Originally, 15,000 movable seats changed to easy attachment seats. The cost for a retractable roof that will be implemented after the Olympics is not included in the total.

    Atlanta 1996 spent $250 million on its stadium, while Beijing 2008 and London2012 were both around $500 million. The Tokyo budget is 5 to 8 times the size of past Games.

    Tokyo 2020 leader Yoshiro Mori (ATR)
    JSC explained the reasons of increased cost of $612 million. $330 million is consumption tax raised from 5% to 8%, and $300 million is increased construction material and labor costs.

    Even though JSC has the responsibility for new stadium building as the contractor, Kono said, “Basically, the new stadium should be built by the Japanese government.”

    Kono said, “We understand various opinions and problems for the new stadium issues. We will explain the building process for citizens as clearly as possible.”

    Mori said, “It’s a national project. Cutting down on such a burden is the proper thing. The new stadium is not only for Rugby World Cup and Olympic games. It will be a holy place of sports and culture in Japan.”

    Masuzoe said “As the host city’s governor, I hope it will be ready in time for Rugby World Cup 2019 and Tokyo 2020. Building the stadium on time is the responsibility for Sports Ministry and JSC.”

    Written by Hironori Hashimoto in Tokyo

    For general comments or questions, click here.

    20 Years at #1: Your best source of news about the Olympics is AroundTheRings.com, for subscribers only.