2020 Olympics

The cost of moving the summer games to 2021 is expected to be massive. The International Olympic Committee said on Tuesday Japan would pay. Japanese officials said they didn't agree to foot the bill.

Despite the rescheduling, the next Olympics will still be known as the Tokyo 2020 games, the International Olympic Committee says.

The torch relay was supposed to start on Thursday in the Japanese prefecture hit hard by the 2011 earthquake and tsunami. A torch runner recalls the disaster that took his family.

"We want to organize the best Games possible," IOC President Thomas Bach said, adding that "this postponement will require sacrifices and compromises from all parties."

The 2020 Games were supposed to begin in late July. "The unprecedented and unpredictable spread of the outbreak has seen the situation in the rest of the world deteriorating," organizers say.

The top leaders of the U.S. organization say postponement from the planned July 24 opening is best, and international officials should ensure that conditions are safe and fair for all competitors.

Speaking before Parliament, Prime Minister Shinzo Abe said: "[W]e may have no choice but to decide to postpone the Games." The Olympics are set to start on July 24.

Archaeologists are rushing to uncover, document and preserve centuries-old objects as new hotels and office buildings go up in the ancient former capital of Japan.