Tokyo 2020 budget se at £12.4bn

Only released on Wednesday, the first official budget is below a cap of 2 trillion yen (£13.8bn), but organisers are still looking for ways to cut costs, after the new figure is six times the original estimate.

London 2012 came in at £8.77bn, the most expensive summer Games of all time, while the most expensive winter event came in Sochi 2014, which is thought to have run to £31bn.

Initially set to be built using new stadiums, the current plan is to use existing arenas for swimming, volleyball and rowing.

"The four parties - the International Olympic Committee, the Tokyo Metropolitan Government, the Government of Japan and Tokyo 2020 - will continue to work towards optimising even further the budgets," a Tokyo 2020 statement reads.

"Tokyo 2020’s commitment to deliver Games at the highest level, in accordance with the schedule, and with the best experience for athletes and fans alike remains at the forefront of all decisions made in relation to the budgets for the Games.”

And IOC officials are sure they can find places to make savings.

"The feeling we have is there are savings to be found there," said International Olympic Committee vice president John Coates.

Sportsbeat 2016