• Japan slashes 2020 Olympic stadium price tag


    TOKYO: Japan said on Friday (Saturday in Manila) it would slash the cost of Tokyo’s new 2020 Olympic stadium by more than 40 percent, after ditching its original plan due to the eye-watering $2 billion price tag. The cabinet approved setting a 155 billion yen ($1.28 billion) cap on construction costs, well below the 265 billion yen estimated under the now-scrapped design. The original was on track to become the world’s most expensive sports stadium. Among the changes, the more budget friendly stadium will not have air conditioning for spectator stands and seating capacity would be reduced by at least 4,000 to 68,000 people.



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