The 2020 Olympics set to be held in Tokyo, Japan this summer have officially been postponed due to mounting concerns surrounding the coronavirus pandemic.

Japan's Prime Minister Shinzo Abe announced the postponement Tuesday after consulting with the International Olympic Committee head, Thomas Bach.

The two sides have agreed to postpone the Games to 2021.

Abe and the IOC explained more in a joint statement:

The unprecedented and unpredictable spread of the outbreak has seen the situation in the rest of the world deteriorating. Yesterday, the Director General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, said that the COVID-19 pandemic is "accelerating". There are more than 375,000 cases now recorded worldwide and in nearly every country, and their number is growing by the hour.

In the present circumstances and based on the information provided by the WHO today, the IOC President and the Prime Minister of Japan have concluded that the Games of the XXXII Olympiad in Tokyo must be rescheduled to a date beyond 2020 but not later than summer 2021, to safeguard the health of the athletes, everybody involved in the Olympic Games and the international community.

The Games were scheduled to begin July 24, ending August 9.