Tokyo Olympic officials unveil cheaper plans for stadium

Looking to tighten their budget for the 2020 Tokyo Games, officials in Japan have released two alternative proposals for the Olympic stadium they need to build.

The initial design was scrapped when projected costs rose to $2 billion. The new versions would reportedly cost less than $1.3 billion.

Plan A is an oval-shaped venue with a partial, deconstructed roof and greenery incorporated around the facade.

Plan B is a circular stadium with a colorful roof and pillars around the outside.

The Olympic stadium usually ranks among the costliest elements -- along with the athletes village and media center -- when it comes to hosting the Games.

Organizers in Tokyo have not revealed the identities of the competing designers, but Japanese media have reported that architects Kengo Kuma and Toyo Ito are involved.