Tokyo Government to Pay Quarter of Cost For Olympic Stadium

 

The Tokyo city government has agreed to pay a quarter of the 158 billion yen ($1.3 billion) cost for the new stadium for the 2020 Olympics.

The breakdown of the financial agreement for the Olympic stadium will see the Tokyo government pay 39.5 billion yen ($320.8 million) of the total cost, the national government will pay half, or 79.1 billion yen ($640 million), and proceeds from a national sports lottery will cover the remaining 39.5 billion yen.

Tokyo's governor, Yoichi Masuzoe, agreed to the plan in talks with Japan's Olympics minister and education minister, who is in charge of sports.

The city will also cover some related costs, such as a pedestrian walkway and maintenance for the stadium, which is expected to become a national landmark and recreation site after the Olympics.