The coronavirus-induced delay of the 2020 Summer Olympics could cost billions of dollars, with Japan and the International Olympic Committee footing the bill, reports the AP.
Why it matters: IOC president Thomas Bach said this weekend that his organization will likely face "several hundred million dollars" of added costs as Japan covers the rest — with estimates pegging the total postponement costs at $2 billion to $6 billion.
The Tokyo Olympics postponement means that nearly $200 million in media rights fees, which the International Olympic Committee was set to distribute to the U.S. Olympic and Paralympic Committee, likely won't arrive until August 2021.
Why it matters: While this certainly puts a financial strain on the USOPC, it also illuminates the larger issue of how the committee distributes its funds, with athletes occupying the bottom of a trickle-down system that leaves many destitute even in the best of times.
Nearly 6,500 athletes who qualified for the 2020 Olympic Games in Tokyo will keep their spots when the event takes place in 2021, according to new qualification rules announced by the International Olympic Committee Tuesday.
The big picture: The revision was made to address the impact of the coronavirus pandemic, replacing a previous version of the regulations from July 2017. The new qualifying deadline is June 29, 2021, and entry lists are due one week later.
It's been 26 days since the sports world effectively shuttered, and fans are eager to start watching games again, but not quite as eager to attend them.
The state of play: According to a new Morning Consult poll, 51% of fans think live sports will return between June and September, while only 8% think the void will bleed into 2021.
Most female gymnasts have a small window of time to compete in the Olympics before their bodies mature, so it was a huge deal that Simone Biles was set to defend her all-around title this summer at age 23.
The state of play: Now that the Games have been delayed a year, Biles, the most decorated gymnast in history, isn't sure if she will compete.
Remember when Spike Lee and the Knicks were feuding over his use of the employee entrance? That was in March.
Flashback: We've all seen the countless memes about the unending misery formerly known as March 2020. Here's a snapshot of how the sports world made it through the longest month ever.
The postponement of the 2020 Olympic Games to next year creates problems for advertisers, who could now potentially be facing a more crowded media calendar.
What they're saying: "Cancelled is actually the easier scenario than postponed because it's a definitive yes or no kind of thing," says Jon Swallen, CRO of the media division at Kantar, an advertising analytics company.
The International Olympic Committee announced Tuesday that the Tokyo Summer Olympics were postponed until 2021 amid the coronavirus pandemic.
Why it matters: The Olympics entail a massive amount of travel, congregating and physical contact — all things that are being discouraged in order to curb the spread of the coronavirus. Multiple athletes and teams had already called for the committee to postpone the Games, which were scheduled to begin July 24.
The International Olympic Committee acknowledged for the first time Sunday that it may have to postpone the Tokyo 2020 Games — an outcome that once felt impossible but now, amid mounting external pressure, feels inevitable.
The state of play: The IOC set a four-week deadline for a decision and added that canceling the Games is not under consideration because that "would not solve any of the problems or help anybody."
Pressure is building on organizers of the Tokyo Olympics and Paralympics to call off the Games, after officials in Canada and Australia announced Sunday night they would not send athletes to this summer's event.
Why it matters: Canada and Australia are the first teams to announce they won't go to the Games because of COVID-19 risks. Both countries have called for the event to be held in the northern summer of 2021.