Sports events affected around the globe due to COVID-19 pandemic.

Tokyo Olympics 2020 to be held from July 23 to August 8 after 1-year delay due to coronavirus pandemic

The delay is the first in the modern Olympics '124-year history, which marks a major blow to Japan, which has spent $13 billion in the run-up to the event, collecting $3 billion from domestic sponsors.

The International Olympic Committee and the organizers agreed to hold next year's Olympics in Tokyo from 23 July to 8 August. The Games were delayed by a year earlier this month because of the coronavirus pandemic which has caused the cancellation or suspension of all major sporting events.

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Monday, between the International Olympic Committee and local promoters, the proposed dates were decided.

Earlier, Yoshiro Mori, President of the Tokyo Organizing Committee, indicated that a decision should be made on Monday itself on the new dates for the Summer Games, which will be renamed Tokyo 2020 despite being held in 2021.

The delay is the first in the modern Olympics '124-year history, which marks a major blow to Japan, which has spent $13 billion in the run-, collecting $3 billion from domestic sponsors.

Toshiro Muto, chief executive of the Games, said earlier on Monday that the committee was going "in the direction" of honoring tickets bought at the rescheduled event for the 2020 Games, or issuing refunds in the case of scheduling changes;

"We want to thank all those who bought the tickets in high demand's dreams," Muto said at a news conference.

But it was too early to know what the delay would cost the extra, Muto said.

Last Tuesday, the IOC and Japanese government bowed to extreme pressure from athletes and sporting organizations around the world by promising to move back the Games due to the coronavirus outbreak, which affected more than 630,000 people worldwide and caused more than 30,000 deaths as of 4PM on March 30th 2020.

What is much worse is that the number of Covid-19 cases in Tokyo has unexpectedly risen after last week's announcement of the postponement of the Olympics.

Prime Minister Shinzo Abe said Saturday that Japan is now on the verge of a massive leap in events, as tracking and holding clusters under track is becoming extremely difficult.

If diseases are exacerbated our policy ... It's going to break apart overnight, "Abe said." We're only barely hanging on to the present situation. Abe has said there's no need for a state of emergency just yet, but that Japan could face a crisis as serious as in the United States or Europe at any moment.