Cancel the Tokyo Olympics? It's unlikely. Here's why
CBSN
Tokyo — Are the Tokyo Olympics on, or off? Weighed down by a litany of negative news, unwanted by much of the Japanese public and medical community, the fate of the Games seems murky. Start searching online for "Olympics," and it often auto-fills with "cancellation."
But while questions about the major sporting extravaganza's viability and safety continue to shadow it, veteran observers argue that enormous financial imperatives, the formidable weight of the International Olympic Committee and Japan's heavy monetary and emotional stake in the Games make it virtually certain it will proceed as planned — barring a major worsening of the coronavirus situation. Andrew Zimbalist, an economist at Smith College in Massachusetts who specializes in analyzing the business of sports, said the momentum to hold the Games is being driven, first and foremost, by the outsized payoff for the IOC. That starts with worldwide TV contracts and extends to top sponsorship deals.
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