Tokyo Olympics put costs at $12.6B

TOKYO (AP) — Tokyo Olympic organizers said Friday they are spending 1.35 trillion Japanese yen — about $12.6 billion — to stage next year’s games. Organizers said the expenditure is unchanged from a year ago, although robust sponsorship and ticket sales have generated a contingency fund of an extra $300 million.

However, Japan’s National Audit Board, in a 177-page report prepared for the national legislature, said next year’s Olympics will cost much more than organizers say.

The audit lists an added $9.7 billion it says are Olympic-related costs that have not been included. In addition, the city of Tokyo has previously said it would spend another $7.4 billion on Olympic-related projects. Tokyo Governor Yuriko Koike said at the time the spending was “for projects directly and indirectly related to the games.”