Tokyo's fiscal strength gives it edge for 2020 Olympics bid
After protests over amount of money being spent in Brazil and Russia, Japanese insist IOC can bank on them to deliver profitable Games
Tokyo has sent a clear message to the International Olympic Committee less than three weeks before the vote to decide the host city for the 2020 Summer Games: Bank on us.
With the IOC under pressure to keep escalating Olympic budgets in check amid protests and political sniping in Brazil and Russia, Tokyo has underlined its promise to deliver a profitable Games without the risk of over-spending.
Tokyo is a safe pair of hands and that includes financial strength. We already have a US$4.5 billion Olympic hosting fund so financially there's no problem - we're secure
"We're very healthy," Tokyo 2020 chief executive officer Masato Mizuno said. "Tokyo is a safe pair of hands and that includes financial strength. We already have a US$4.5 billion Olympic hosting fund so financially there's no problem - we're secure. We also have city and government guarantees. There is no worry."
Tokyo, which tiptoed into the bidding race after losing out to Rio for 2016, remains the favourite with the bookmakers to beat rivals Istanbul and Madrid for the right to stage the 2020 Games.
Having re-entered the fray with the country still recovering from a deadly tsunami and resulting nuclear crisis in 2011, Tokyo's budget and financial stability could be a key factor in the September 7 vote in Buenos Aires.
Mizuno, who has clocked up so many air miles lobbying for votes that he has his right hand in a protective support from constantly lifting his luggage, insisted Tokyo had even more cash at its disposal for 2020.
"The US$4.5 billion budget included the main stadium," he said of the US$1.4 billion flying-saucer design with retractable roof. "The main stadium has since become the national stadium funded [separately] by the government so we have even more reserves. You can rely on us to deliver."