When the dust settles on the marquee venue for the 2020 Summer Olympics in Tokyo, it could well be the most expensive sports stadium in the world. The latest cost estimate of 252 billion yen ($2 billion at current exchange rates) would push it beyond the current record-holder, the $1.6 billion Metlife stadium completed in 2010 for the New York Jets and Giants football teams.
What is the money buyingIJ The design of the stadium’s ribbed roof on huge steel arches resembles a bicycle helmet. To support a natural grass field, the roof’s southern end will be translucent to let in sunlight and underground will be soil ventilation and temperature control systems. Movable seats will bring the crowd closer for more intimate events.
While exchange rate fluctuations and inflation make comparisons tricky, it is safe to say that Japan’s new National Stadium will likely to be the most expensive ever built, two sports economists said. The latest estimate was a 55 per cent increase.
At least five stadiums costing more than $1 billion have been built worldwide, four for American football and baseball teams and Wembley Stadium for football. Tokyo’s new stadium, designed by award-winning architect Zaha Hadid, would be the first to reach $2 billion.