#olympic committee
For all of you who were wondering why Tokyo took the risk of running the Olympics this summer:
The host city contract for every Olympics states the IOC is the only party empowered to postpone or cancel the event. The contract has a weak “force majeure” clause that states “if the IOC has reasonable grounds to believe, in its sole discretion, that the safety of participants… would be seriously threatened or jeopardised for any reason whatsoever.”
If the IOC terminates the contract, the city, the host National Olympic Committee and the organizing committee all waive any claim and right to “damages, or other compensation or remedy.”
A cancelled Olympic Games would leave Tokyo liable for billions of dollars — one estimate puts the cancellation costs at US $17 billion. But as some experts have pointed out, “the economic loss would be much greater” if the Tokyo Games turn into a super-spreader event.
Source: theconversation.com
