Tokyo government to pay a quarter of Olympic stadium cost

AP News
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Posted: Dec 01, 2015 7:01 AM

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

The decision was announced Tuesday by the Cabinet office.

The Tokyo government will 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.

Work on the stadium fell behind as the government abandoned a design by renowned architect Zaha Hadid due to spiraling costs, sending organizers back to the drawing board.

The new facility will replace the old National Stadium, which hosted the previous Tokyo Olympics in 1964.