TOKYO—The pandemic-delayed Tokyo Olympics are shaping up as a TV-only event with few spectators—if any—being allowed when they open in just over two weeks. Japan’s Asahi newspaper, citing multiple unidentified government sources, said Tuesday the opening ceremony at the 68,000-seat National Stadium is likely to be limited to only VIP guests. The Olympics open on July 23. The newspaper said other large venues are likely to have no spectators. Smaller venues are expected to allow some spectators. Tokyo organizers and the International Olympic Committee are expected to announce the policy after a meeting likely on Thursday. Two weeks ago, they announced that venues could be filled up to 50 percent capacity with a ceiling of 10,000. But surging virus numbers in Tokyo are forcing a rollback. The IOC earns almost 75 percent of its income from TV rights, and will still generate $3 billion to $4 billion in income from …