The IOC has set aside $800mn to help with the “severe” financial impact caused by the postponement of the Tokyo 2020

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The International Olympic Committee has set aside $800million to help with the “severe” financial impact caused by the postponement of the games in Tokyo 2020.

Organisers will get $650m after this summer’s Games were postponed by a year because of the Covid-19 pandemic.

The other $150m is set to be split into loans for international sports federations and national Olympic committees to address the cash flow problems.

IOC president Thomas Bach refused to speculate on whether there would be a further delay or cancellation if a vaccine for Covid-19 is not found before next year’s event, which is due to run from 23 July to 8 August.