The Tokyo Organising Committee is unlikely to get much of an insurance payout for lost ticket sales from a ban on spectators at the Olympics, after using up much of its event cancellation policy on postponement costs last year, insurance sources say.
The Olympics will take place without spectators in host city Tokyo, organizers said last week, as a resurgent coronavirus forced Japan to declare a state of emergency in the capital that will run throughout the games.
Some events outside Tokyo will have spectators, but ticket revenues of about $815 million (¥90 billion) are set to dwindle to close to zero.