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Financial impact will be 'giant' for IOC and Tokyo, lawyer believes (AFP)

Updated: Jan 9, 2023

The new coronavirus pandemic tends to have strong impacts on the holding of the Tokyo Olympic Games. In addition to the need for an additional investment of US$ 2.7 billion (about R$ 13.5 billion), according to the Japanese newspaper specializing in economics "Nikkei", organizers will have to deal with the losses related to not having spectators. . – Initially, we need to wait for the IOC to confirm whether or not we will have the presence of the public at the Olympic games next year, some experts say that we will hardly have the presence of the public in 2021. We need to analyze the impacts in two scenarios, one with the presence of public and another without – said the lawyer Josiel Vaciski Barbosa, founding partner of Suttile & Vaciski Advogados Associados, to LANCE!.

Barbosa points out that the scenario would be less challenging with the confirmation of the presence of the public. However, he emphasizes the need for sanitary conditions so that everyone can follow the Games: – In this scenario, I believe that the impact will be reduced, given that the IOC will guarantee those who already purchased the tickets the possibility to follow the games “in loco” or make their return, putting that ticket on sale again to another interested party. Here it is worth mentioning that the IOC will only allow the presence of the public if the health of all those involved in the event is guaranteed. The new coronavirus pandemic tends to have strong impacts on the holding of the Tokyo Olympic Games. In addition to the need for an additional investment of US$ 2.7 billion (about R$ 13.5 billion), according to the Japanese newspaper specializing in economics "Nikkei", organizers will have to deal with the losses related to not having spectators. . – Initially, we need to wait for the IOC to confirm whether or not we will have the presence of the public at the Olympic games next year, some experts say that we will hardly have the presence of the public in 2021. We need to analyze the impacts in two scenarios, one with the presence of public and another without – said the lawyer Josiel Vaciski Barbosa, founding partner of Suttile & Vaciski Advogados Associados, to LANCE!. Barbosa points out that the scenario would be less challenging with the confirmation of the presence of the public. However, he emphasizes the need for sanitary conditions so that everyone can follow the Games: – In this scenario, I believe that the impact will be reduced, given that the IOC will guarantee those who already purchased the tickets the possibility to follow the games “in loco” or make their return, putting that ticket on sale again to another interested party. Here it is worth mentioning that the IOC will only allow the presence of the public if the health of all those involved in the event is guaranteed.


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