The International Olympic Committee is braced for a financial hit of 800 million US dollars (£650m) as a consequence of the decision to delay the Tokyo Games until 2021.

IOC president Thomas Bach said its executive committees has approved the sum to cover the costs of reorganisation and to support individual sports federations and national Olympic committees.

“Society will be more concentrated on essentials and maybe not so much any more the nice-to-have things in society, and all this will be reflected in the organising of this postponed Olympic Games.

“We want this Olympic Games to be a frugal Games, concentrating on the essentials and the spirit and message… is about the athletes and the sporting excellence.

“It is about bringing the entire world together and it will be a special situation, and also a message of solidarity in the world in addressing and overcoming this corona crisis.”