Tokyo Olympics President Yoshiro Mori (right) at a press conference on March 30, 2020. - Issei Kato / AP / SIPA

The International Olympic Committee (IOC) has released an envelope of 800 million dollars (740 million euros) to face the consequences of the crisis linked to the coronavirus, announced its president Thomas Bach, Thursday at a press conference .

Thomas Bach, who spoke by videoconference after a meeting of the IOC Executive Committee, said that of the € 740 million, € 600 million will be used to postpone the Olympic Games from Tokyo to 2021, and 140 will go to the Olympic movement, in particular to the international federations largely affected by the coronavirus crisis.

No Olympic Games in Tokyo in 2021 if the pandemic is not controlled https://t.co/YZxu4CNY5B

- 20 Minutes (@ 20Minutes) April 28, 2020

The Covid-19 resulted in "severe financial consequences for the Olympic Games, the Olympic movement as a whole and the IOC," said the president of the institution. Furthermore, the IOC has adopted the dates for the next session, which will be organized for the first time in a virtual manner and which will be held on July 17.

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