The governing body has told insidethegames that Swiss bank Credit Suisse has agreed to a CHF2.5 million (£2 million/$2.5 million/€2.35 million) payment that was due this year being paid instead at the end of 2021.

World Archery should by that time have received the bulk of a $18 million-plus (£14.6 million/€16.8 million) payment from the International Olympic Committee (IOC) related to the sport’s inclusion on the programme of the postponed Tokyo 2020 Olympics.

This would normally have been expected in the final months of this year.

The disclosure comes as the body published financial statements for 2019 showing a deficit of CHF3.16 million (£2.6 million/$3.2 million/€3 million).

Income of CHF3.66 million (£3 million/$3.7 million/€3.4 million) was far outweighed by expenses of CHF6.8 million (£5.6 million/$6.9 million/€6.4 million).

The latest balance sheet shows, moreover, that total assets have shrunk to CHF3.57 million (£2.9 million/$3.6 million/€3.35 million) and unrestricted funds to CHF2.59 million (£2.1 million/$2.6 million/€2.4 million).

This is why renegotiation of that CHF2.5 million financing payment was so important.

Commercial revenue in 2019 amounted to CHF2.73 million (£2.2 million/$2.75 million/€2.6 million), mainly derived from sponsors – CHF1.32 million (£1.1 million/$1.33 million/€1.24 million) – and bid cities CHF1.15 million (£943,000/$1.15 million/€1.08 million). 

TV revenue totalled just CHF225,256 (£184,710/$227,508/€211,740). 

The payment schedule for the Excellence Centre, which opened in late-2016, had already been changed, with the final contribution of CHF1.78 million (£1.46 million/$1.8 million/€1.67 million) not now due until 2028.

The governing body's total contribution is expected to be CHF10.6 million (£8.7 million/$10.7 million/€10 million), of which CHF3.32 million (£2.7 million/$3.35 million/€3.1 million) has already been paid.

A note in the accounts says that World Archery – whose President, Turkey's Uğur Erdener, is one of the IOC vice-presidents – has taken out insurance to cover the contributions "in case of a cancellation of the Olympic Games".

The governing body owns its administrative building and, as it wrestles with the financial consequences of the pandemic, it has acknowledged that it might decide to take out a new mortgage to raise cash.

Asked directly whether the building might play a part in helping World Archery navigate the present global crisis and, in particular, whether a new mortgage might be taken out, Tom Dielen, the body’s secretary general, responded: "This is one of the options since we consider the office as a reserve which we can use for such purpose."

As reported this week, World Archery has placed all staff at its Lausanne headquarters on temporary partial unemployment in a further step to mitigate the financial impact of coronavirus on the organisation.