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Tokyo 2020 Olympic cost estimate released

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TOKYO (AP) — Organizers of the Tokyo Olympics estimate the total cost of hosting the 2020 Games will be between 1.6 and 1.8 trillion yen ($13-$15 billion).

The official cost estimate announced Wednesday was below the promised 2 trillion ($17 billion) cap, while organizers said they will try to come down further.

“This is Version 1,” said Toshiro Muto, chief executive officer of the organizing committee. “We will continue our cost-cutting effort toward our Version 2.”

Details of cost-sharing among the three parties — the organizing committee, Tokyo and central governments — can be now worked out, Muto said.

The cost estimate includes 590 billion yen ($5.5 billion) to build permanent and temporary venues and other facilities, and 410 billion yen ($3.8 billion) for “soft” costs such as transportation, security and other operational expenses. It takes into account 500 billion yen ($4.7 billion) of revenue from sponsorship, ticket sales, licensing and IOC contributions.

It also calls for a backup budget of 100-300 billion yen ($1-$2.8 billion) to cover “contingency” costs such as possible anti-heat measures that may be needed to cope with Tokyo’s hot weather, officials said.

International Olympic Committee vice president John Coates had criticized the $17 billion cap as too high. Coates, via a videoconference link from Australia, joined chief organizer Yoshiro Mori, Tokyo Gov. Yuriko Koike and Olympic Minister Tamayo Marukawa for Wednesday’s announcement.

Coates praised their effort and said he was “very, very pleased” with the outcome, which is a substantial reduction from an earlier prediction. He noted the taxpayer money would be from 1.1 to 1.3 trillion yen ($10.3-$12.1 billion) and that the total cost also includes “considerable legacy.”

While Coates would not give a numerical target, he said more details are needed in areas such as transport, security and games operations for further cost reduction.

“We need to do more work there. But the feeling we have is that there are savings to be found there,” he said.

Tokyo’s Olympic costs have soared amid Japan’s reconstruction from the earthquake and tsunami in 2011, the year the city launched its bid for the Games. Tokyo secured the Games in 2013. The trend in the construction industry is expected to continue until the Games, officials said.

A Tokyo government panel has warned the eventual total cost could exceed $30 billion — four times the initial estimate — without drastic cuts. The outspoken governor, Koike, has spearheaded a cost-cutting effort, proposing a review of three costly venues.

The IOC is facing pressure to reduce costs to help entice cities to bid for future Games. The $51 billion price tag associated with the 2014 Winter Games in Sochi, Russia, led numerous cities to drop out of bidding for the 2022 and 2024 Olympics. The IOC is encouraging cities to make maximum use of existing and temporary facilities.

Koike has agreed to keep all three venues — for rowing and canoe sprint, swimming and volleyball — at their planned sites in Tokyo, rather than moving them outside the capital. Yet, she said the review led to a 40 billion yen ($340 million) savings and that she is seeing further reductions in line with IOC policy.

“I hope this will be a wisely-spent, sustainable event,” she said.

MORE: IOC ‘pushing’ for MLB players at Tokyo 2020

 

Olympic ski cross champion suffers serious knee injury

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Canadian Marielle Thompson, the reigning Olympic and World Cup ski cross champion, ruptured an ACL and MCL in a training crash in Switzerland.

Alpine Canada did not say when the accident happened or what Thompson’s chances are of returning to defend her Olympic title in PyeongChang.

Thompson flew from Switzerland to Vancouver for an MRI that confirmed the injury.

“I’ll be making a plan with my team moving forward and when the time is right getting back on the ski cross course stronger than ever,” Thompson said in a press release.

Thompson, 25, tore a meniscus in January 2015 and returned to competition 11 months later. She won seven of the 13 World Cup races last season.

Other Olympic medal contenders include Swede Sandra Näslund and Swiss Fanny Smith.

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Nathan Chen leads Yuzuru Hanyu at Grand Prix opener (video)

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U.S. champion Nathan Chen hopes to become comfortable in this spot this season — ahead of reigning Olympic and world champion Yuzuru Hanyu in the standings.

The 18-year-old Chen landed two quadruple jumps in his short program at the opening Grand Prix event in Moscow, taking a 5.69-point lead over Hanyu going into Saturday’s free skate.

Two-time world champion Yevgenia Medvedeva of Russia topped the women’s short program with 80.75 points (one tenth off her world record).

Full Rostelecom Cup results are here.

Chen’s tally — 100.54 points — is the second-highest short of his flourishing international career. It would have been higher if not for two of his three jumping passes receiving negative grades of execution for wonky landings.

The Japanese megastar Hanyu fell on his final jump, a triple toe loop, on Friday. No matter, Winnie the Pooh bears rained down on the ice from the adoring crowd, many of whom traveled from Japan.

Hanyu scored 94.85 points, one month after breaking his world record short program score with 112.72 points in a small event in Canada.

“Today I made some mistakes in my short program, but overall it didn’t feel bad,” Hanyu said, according to the International Skating Union.

Hanyu, though he is the current PyeongChang favorite, has never won his season-opening Grand Prix event in seven tries.

Chen has now outscored Hanyu, who is four years older, in four of their last eight head-to-head skates.

Hanyu was better in the two biggest programs at last season’s world championships. Chen placed sixth at worlds in April, perhaps gassed at the end of his first senior season while competing on duct-taped skates.

In the women’s standings, Medvedeva topped Olympic bronze medalist Carolina Kostner of Italy by 6.13 points.

American Mirai Nagasu landed a triple Axel that was called under rotated and fell on her other two jumping passes. She ended up ninth, two spots behind U.S. bronze medalist Mariah Bell.

In the short dance, two-time world medalists and U.S. champions Maia Shibutani and Alex Shibutani tallied 77.30 points.

The siblings lead by .97 over Russians Yekaterina Bobrova and Dmitry Soloviyev going into the free dance.

Russians are one-two in pairs. World bronze medalists Yevgenia Tarasova and Vladimir Morozov lead Olympic silver medalists Ksenia Stolbova and Fedor Klimov by 5.49.

All of the free skates are Saturday, live on Olympic Channel. A full schedule is here.

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Rostelecom Cup
Men’s Short
1. Nathan Chen (USA) — 100.54
2. Yuzuru Hanyu (JPN) — 94.85
3. Dmitriy Aliyev (RUS) — 88.77
11. Grant Hochstein (USA) — 67.56

Women’s Short
1. Yevgenia Medvedeva (RUS) — 80.75
2. Carolina Kostner (ITA) — 74.64
3. Wakaba Higuchi (JPN) — 69.60
7. Mariah Bell (USA) — 63.85
9. Mirai Nagasu (USA) — 56.15

Short Dance
1. Maia Shibutani/Alex Shibutani (USA) — 77.30
2. Yekaterina Bobrova/Dmitry Soloviyev (RUS) — 76.33
3. Alexandra Stepanova/Ivan Bukin (RUS) — 71.32
7. Rachel Parsons/Michael Parsons (USA) — 59.41

Pairs Short
1. Yevgenia Tarasova/Vladimir Morozov (RUS) — 76.88
2. Ksenia Stolbova/Fedor Klimov (RUS) — 71.39
3. Valentina Marchei/Ondřej Hotárek (ITA) — 68.48
7. Marissa Castelli/Mervin Tran (USA) — 54.37