Design A for the Tokyo 2020 Olympic Stadium ©Japan Sports Council

Two competing designs for the Tokyo 2020 Olympic Stadium have been revealed today.

Japan's capital needs to decide on a new blueprint for the showpiece venue of its Games after initial plans were scrapped due to spiraling costs.

Both designs, released by the Japan Sports Council, take inspiration from Japanese values and have been named A and B.

The companies which have drawn up the plans have not been revealed, but media in Japan has named architects Kengo Kuma and Toyo Ito. 

Design A is notable for the greenery surrounding the stadium, and has a combined steel and wood structure which could be a nod to traditional temples.

Meanwhile, Design B has no outer walls with pillars in place instead.

It also features a glass facade that will blend with the sky and is meant to reflect Asian concepts of wood, fire, earth, metal and water, according to the Associated Press.

The second proposed design for Tokyo's Olympic Stadium, or Design B
The second proposed design for Tokyo's Olympic Stadium, or Design B ©Japan Sports Council

"We will work to ensure a stadium that will be loved by all," said Kazumi Ohigashi, President of the Sports Council.

Initial stadium designs, drawn up by British firm Zaha Hadid, were axed in July by Japan's Prime Minister Shinzō Abe as costs rose to ¥252 billion (£1.3 billion/$2 billion/€1.8 billion).

This was more than double the original estimates.

A search for a new, cheaper design began but there are lingering fears that the venue will not be ready in time for the Olympics.

The International Olympic Committee has set a deadline of January 2020 for completion, with the Sports Council insisting that both Design A and Design B could be built by November 2019.

This is despite Japanese Government officials announcing last month that work on the stadium, which will be built on the site of the arena used for the 1964 Olympics, will not begin until 2017.

In addition, it was earlier claimed that the bill for the new stadium will come in at around 158 billion yen (£850 million/$1.3 billion/€1.2 billion).

The controversy has already forced the resignation of Japanese Sports Minister Hakubun Shimomura while the country will not be able to use the venue for the 2019 Rugby World Cup as initially planned.

Matches, including the final, will now be played in Yokohama.

Earlier this month, it was revealed that Tokyo's City Government will pay a quarter of the costs of the new stadium, with the National Government paying half and the Sports Council settling the rest of the bill.

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September 2015: Zaha Hadid and Nikken Sekkei withdraw from Tokyo 2020 National Stadium competition