The International Olympic Committee and the Tokyo 2020 Organising Committee have come up with "over 200 opportunities" to reduce costs and simplify the process of holding the postponed Games.
"A list of 200 opportunities have now been identified between Tokyo 2020 and the IOC in order to reduce the demands, in particular financial, resulting from Tokyo 2020 postponement," said the IOC in a letter to all International Federations (IF) on Tuesday.
"These opportunities cover all areas and stakeholder groups including but not limited to venues, technology/energy, transport and arrivals and departures."
The IOC said that the organisers are now working to develop detailed proposals for each idea. "Once received, we will review each of these with the ASOIF Olympic Multi-Sport Games (AOMSG) Working Group prior to passing them to all IFs for your input on both general sport/venue specific considerations," it said.
IOC President Thomas Bach said last month that the postponement of the Olympics will cost the IOC over $800 million.
"We anticipate we will have to bear costs of up to $800 million for our part and responsibilities in the organization of the postponed Games Tokyo 2020," Bach said in a teleconference after the IOC's Executive Board meeting.
Bach said that "$650 million would go towards the organization of the Games next year and $150 million to support international federations and National Olympic Committees (NOC)."
Originally scheduled to be held from July 24 to August 9, the Olympics was in March this year postponed due to the coronavirus pandemic. It will now be held from July 23 to August 9, 2021.
( With inputs from IANS )