The Tokyo 2020 Olympics starts in 897 days

Organizers of the 2020 Tokyo Olympics say they're having no problems raising cash. International Olympic Committee member John Coates, head of the IOC, says local organizers have raised $2.9 billion in national sponsorship money. Coates called the money-raising effort "extraordinarily successful." He says Tokyo now has 47 local sponsors, and this excludes long-term IOC sponsors like Bridgestone, Panasonic and Toyota. The sponsorship money will help fund the $5.5 billion local operating budget. The total cost of preparing the Games is about $20 billion, with the rest of the money coming from the city of Tokyo and the national government.

posted Wednesday February 7th