Tokyo Olympics in doubt due to coronavirus

Japanese Olympic organizing committee executive member Haruyuki Takahashi plans to propose the possibility of postponing the 2020 Tokyo Olympics due to the reality of the coronavirus outbreak, which isn’t expected to be contained by July.

Takahashi suggested previously that the games could be delayed by one or two years if they were unable to be held on schedule this summer, although he was met with resistance from his own committee with that statement.

The World Health Organization is expected to issue a stance on the Olympics ahead of planned talks by the organizing committee.

The Olympics are typically a revenue booster for Nike (NYSE:NKE) and Adidas (OTCQX:ADDYY), while Comcast (NASDAQ:CMCSA) has a significant investment in the expected exposure of its NBC properties. Some of the largest Olympics sponsors are Alibaba (NYSE:BABA), Visa (NYSE:V), Toyota (NYSE:TM), Coca-Cola (NYSE:KO) and Procter & Gamble (NYSE:PG).

https://seekingalpha.com/news/3550446-tokyo-olympics-in-doubt-due-to-coronavirus