Delaying the 2020 Summer Olympics until 2021 reportedly could have a massively negative financial impact on Japan.
According to the Associated Press (h/t ESPN), Japanese financial newspaper Nikkei reported that it could cost Japan an extra $2.7 billion based on estimates from organizers.
On Tuesday, the International Olympic Committee and the Tokyo 2020 Organizing Committee released a joint statement in which the two sides agreed to postpone the 2020 Summer Games until 2021 due to the coronavirus pandemic.
This article will be updated to provide more information on this story as it becomes available.