• Tokyo 2020 face sponsor crisis with contracts expiring at end of year

September 10, 2020

According to Reuters, organisers are expected to be paid additional costs for extending contracts from sponsors.

Sources suggest that many of these sponsors are not considering renewing their partnerships, but there are also worries about a potential backlash from abandoning the Games.

"The delay threw financial plans for the Games into disarray and many companies really don't want to pay any more," an Olympic insider said to Reuters.

Two unnamed sponsors said they expected the extension negotiations to be "very difficult".

Read More on: insidethegames.biz