Tokyo 2020 Games the final cash splash Olympics

Olympic officials have reassured Brisbane’s 2032 Olympic bid team that Tokyo’s big budget does not have to be replicated.

The new National Stadium, venue for the upcoming Tokyo 2020 Olympic Games.

Olympic officials have reassured Brisbane’s 2032 Olympic bid team that Tokyo’s big budget for this year’s Games does not have to be replicated for Australia to win hosting rights.

The International Olympic Committee said the $US5.6bn ($8.2bn) operating costs of the Tokyo Games have been fully funded without public money.

A key aspect of Queensland government’s support to go forward with a bid to host the 2032 Olympics — apart from plans by the federal government to fast-track rail and road transport between the Sunshine Coast and the Gold Coast — was the promise of at least a $US1.8 billion contribution from the IOC.

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Australia’s IOC member John Coates, who chairs the Tokyo 2020 co-ordination commission, said the Tokyo budget “shouldn’t be an example to anyone else’’.

The Japanese government and the Tokyo government had used the Games to unleash billions to build new stadiums.

Coates said the Japanese had spent big on magnificent new venues — a national stadium, a new aquatics centre and facilities for rowing and gymnastics — because it had been more than half a century since they last held the Games, in 1964, and Tokyo’s population of 35 million needed more community venues.

Tokyo 2020 was awarded the Games in 2013 before the IOC introduced dramatic changes to how prospective Olympic cities should plan with significant cost cutting measures in mind.

The Japanese organisers said they were involved in the transition period of the IOC’s switch to a cheaper and smarter Games. They modified their venue plans and introduced more temporary facilities and refurbishment of existing sites, but still built nine new venues, including the spectacular National Stadium.

Tokyo 2020 spokesman Masa Takaya told The Weekend Australian this week: “Japan has a strong history of leveraging the Olympic legacy for its citizens. The 1964 venues were used for sports, concerts and cultural events on a daily basis.

“The legacies enrich people’s lives in the heart of the city and we wanted a similar approach from the Tokyo 2020 venues. They will serve future generations for decades to come.’’

While the organising committee for Tokyo 2020 has a budget of $US5.6bn to stage the Games and construct the temporary venues, the Tokyo government committed $US5.6bn and the national government $US1.3bn, making a total Japanese spend on all Olympic related costs, including the infrastructure, stadiums, security and transport to $US12.5bn.

Coates said the $US5.6bn operating costs were “higher than what other Games can and should be under the new norm’’.

But he said Tokyo 2020’s budget reflected the change of some venues from permanent to temporary sites.

Coates said local laws about temporary facilities had added to the budget, noting “there are more nuts and bolts in the showjumping and dressage arenas than in the Sydney Harbour Bridge’’.

But the Japanese have also had the luxury of receiving extraordinary high levels of corporate and business support for the Games.

On top of the IOC’s TOP sponsorship support of $US500m, the IOC contribution of $US800m, there are 79 national sponsors putting in a total of $US3.3bn. Games tickets are a sellout, bringing in $US840m and other income and licensing adds $US400m.

All of the Games income tallies to $US5.9bn, leaving a healthy $300m in contingency.