Australia's Olympic officials are working with sporting bodies and sponsors on the new challenge of making a four-year budget cycle stretch to five years after the International Olympic Committee officially delayed the Tokyo 2020 Games until next year.

While national bodies including the Australian Olympic Committee earlier this week made it clear the COVID-19 pandemic meant the Tokyo games could not proceed this year, a change of date only became official on Wednesday when the Lausanne, Switzerland-based IOC postponed the games to unspecified dates "no later than the [northern] summer of 2021".