The UIPM claims to have avoided huge financial damage caused by the coronavirus pandemic ©Getty Images

The International Modern Pentathlon Union (UIPM) claims it has avoided major financial consequences resulting from the cancellation of the 2020 season by rescheduling events for future years.

Modern pentathlon's entire campaign has effectively been wiped out by the coronavirus pandemic, which has forced a near-complete shutdown of sport across the world.

The cancellation and postponement of events has placed additional financial pressure on International Federations, which are also counting the cost of the decision to push back the Tokyo 2020 Olympic Games to 2021.

A spokesperson for the UIPM told insidethegames the governing body had been able to limit the financial damage caused by the COVID-19 crisis by rearranging events instead of cancelling them.

The spokesperson and UIPM President Klaus Schormann declined to reveal exact details.

"UIPM did have to cancel the majority of its major competitions in 2020, but instead of a permanent cancellation, we have agreed with most organisers to reschedule for future years based on discussions with local authorities and with Government support," the spokesperson said.

"That cooperation has enabled UIPM to avoid any major financial consequences from the cancellation of the 2020 season."

UIPM President Klaus Schormann said they had found the best way forward for athletes and organisers ©Getty Images
UIPM President Klaus Schormann said they had found the best way forward for athletes and organisers ©Getty Images

Federations on the Tokyo 2020 programme are facing cashflow challenges of varying degrees of severity as a result of the expected delay by one year of multi-million-dollar payments they would normally have expected to receive from the International Olympic Committee (IOC) after the event.

The UIPM is in the last tier of Federations and was set to be paid the bulk of its $14.10 million (£11.4 million/€13 million) share of the Tokyo 2020 revenue by the IOC in September.

The spokesperson confirmed the UIPM was in discussions with the IOC regarding possible financial support in 2021 in the build-up to Tokyo 2020, rescheduled for July 23 to August 8.

"I have spoken with National Federations and organisers, and with my Executive Board colleagues, in recent weeks about the best way forward for our athletes and nations," Schormann told insidethegames.

"Together we have found best ways.

"We are still in a process with all organisers."

The UIPM does not publish its accounts and the only financial information available is a short section in the minutes from the body's last Congress in Cyprus in 2018.