Olympic Games Tokyo 2020, Why not rebrand it as Tokyo 2021?

It’s been more than a week that the 2020 Summer Olympics, officially the Games of the XXXII Olympiad and branded as Tokyo 2020 begun. But we are in 2021; is this a mistake? Actually not, and the reason behind this is a number of intellectual property issues.
First of all, since the modern Olympics first begun in 1896, they have been postponed only 3 times: 1916, 1940 and 1944, due to the World Wars. The situation with postponing the games due to a pandemic is unprecedented, however the International Olympic Committee decided to launch them with the original name. You might think that there is a lot of merchandise already produced and this is the reason but actually it goes way deeper than that.
Carlos Castro, the Head of Intellectual Property for IOC writes an article explaining the IP journey for the Olympic Games. It all starts 10 years before the Olympic flame leaves Olympia in Greece and makes its way to the host city, where it lights the Olympic Cauldron at the Opening Ceremony. At every stage of that journey, IP is created, commissioned, acquired or otherwise secured. It is common for cities to register trademarks at this early stage of their Olympic journey, well before the formal candidature process starts. For example, trademarks have already been registered for the Olympic Games in Tokyo 2020, Paris 2024, Beijing 2022 and Los Angeles 2028.
Similar to any other commercial product, the IP rights associated with the Olympics protect the integrity and uniqueness of the brand. The IP protection is also crucial for ensuring that the IOC continues to generate revenues from the most widely-viewed sporting event in the world. The revenues then generated through the IOC’s strategic use of IP rights are redistributed across the Olympic Movement to individual athletes, Organising Committees, NOCs, International Sports Federations and other sports organizations.