Three Olympics Games have been cancelled in the past because of two world wars.
However, this year is the first time the event has been postponed.
Organisers of the Tokyo Olympics and Paralympics say the coronavirus pandemic made it impossible to hold the events this summer.
The delay will cost the Japanese government, businesses and sponsors billions of dollars.
Hundreds of tournaments and competitions around the world are either on hold or cancelled.
What will be the financial and psychological impact on athletes, fans and businesses?
Presenter: Bernard Smith
Gail Emms – badminton silver medallist for Team Great Britain in the 2004 Olympic Games
Tadgh MacIntyre – lecturer in sports and performance psychology at the University of Limerick
James Reade – associate professor at the University of Reading