Tokyo 2020 Olympic and Paralympic Games organising committee plans to set a price cap on tickets at 300,000yen ($2,720), according to Kydo News.

Sources familiar with the matter also said there has been a minimum price set at 2,000yen ($18).

In addition, the highest priced tickets would be for the opening ceremony, while the most expensive ticket for a sporting event would sit at 130,000yen ($1,180) for athletics.

While these are not confirmed, the International Olympic Committee Executive Board will officially release prices after approval in July.

The initial plan saw the cap sit at 288,000 yen with a minimum price of 2,600 yen, in line with prices at the 2012 London Olympics.

However, it had been suggested that a broader range was favourable in order to accommodate different types of guests.

In addition, a panel of experts discussed a cheaper ticket for elementary school students, children, and families in the range of 1,000-2,020 yen, and looked at significantly raising prices for those in wealthier groups.

The committee will reportedly continue to discuss ticket prices and present their recommendation to the International Olympic Committee in July.

Image: Marco Verch