As Los Angeles draws closer to being awarded a Summer Games — potentially in 2024 or 2028 — the cost of hosting the massive sporting event continues to be a big concern within the Olympic movement.
On Wednesday, an International Olympic Committee executive urged organizers of the 2020 Tokyo Games to continue trimming a budget that has far exceeded initial projections.
Japanese officials originally predicted they would spend less than $7 billion but have seen that number grow. Even with significant reductions, the current estimate tops $12 billion.
IOC officials in Tokyo this week to evaluate the city’s preparation want more cuts.
"It is important to us that...