Last summer, when the 2020 Summer Olympics in Tokyo, Japan were postponed for a year, it was the first time in modern Olympic history that the games did not take place for a reason other than war. Although sports fans and athletes around the world were incredibly disappointed, it was the right move. The pandemic had just started, and the logistics of safely getting thousands of athletes from around the world to a single location were in question. In addition, we simply did not know enough about the spread and severity of the coronavirus, and a potential vaccine seemed a world away. By pushing the Olympics to summer 2021, the International Olympic Committee believed that Tokyo would be better prepared to handle logistics with better tools in a COVID-19 world.
The IOC was right. Vaccines are relatively widely available now, and rapid, accurate COVID-19 tests continue to be administered. While the torch will most likely be lit in Tokyo this summer, there is still a level of uncertainty and hesitation from those involved. However, “most likely” needs to be turned into a “definitely” because of the ramifications that not having an Olympics this summer could have.
The Japanese government has spent $15.4 billion on this Olympics — more than has been spent on any other Summer Games in history. Postponement costs alone account for 22% of the budget, such as renegotiating new stadium and TV deals. This is more than double what Japan initially planned for when it took on the job for the 2020 games back in 2013. If Japan backs out now, it stands to lose out on not only publicity for the country but a lot of revenue as well.
The IOC also faces risk of loss if the Olympics don’t occur. TV rights and sponsorships make up 91% of the IOC’s revenue, both of which occur only during the Olympic season. The IOC does not have a constant cash flow like most companies and relies on big influxes of money during the Olympics to stay afloat. Currently, due to the postponement, the IOC is cash-strapped and is looking for the games to save them.
The IOC is not just a profit-driven machine. It is the leading organization in the promotion of Olympic sports around the world. Many sports federations that actively promote athlete development rely immensely on IOC contributions. Indirectly, IOC money sponsors the continuation of the sporting legacy around the world. The future of sports is at stake here.
The Japanese government and the IOC have already said that if the Tokyo Games don't happen this year, they will not happen at all. By that point, the IOC will need to start preparing for the 2022 Winter Olympic Games. Therefore, there could be an eight-year gap between two consecutive Summer Games. Even for the best athletes, eight years is almost the length of an entire career.
For some of the lesser-known Olympic sports that I spent this semester’s column discussing, this could mean that their best athletes never get the recognition and compensation that they deserve. That’s like saying the Michael Jordan of trampolining may never even be made known if we don’t have the Olympics.
No more “maybes.” The Olympic Games need to happen this summer in Tokyo. While there is definitely money at stake, more importantly, there are careers that hang in the balance.
