The ISSF has told the IOC it does not require financial support ©ISSF

The International Shooting Sport Federation (ISSF) has become the latest Summer Olympic sports body to confirm it will not be seeking financial support from the International Olympic Committee (IOC).

A senior official from the ISSF told insidethegames the organisation had informed the IOC it did not require any form of relief, including an advance on its share of the Tokyo 2020 Olympic Games revenue.

The ISSF is thought to be one of the more financially stable International Federations (IFs) owing to the fact its President, Russian billionaire Vladimir Lisin, is considered among the wealthiest men in the world.

Shortly after his election as President in November 2018, Lisin, the chairman of steelmaker NLMK, used $10 million (£8.2 million/€9.2 million) of his own money to set up a development fund for the sport.

Others to have turned down IOC support include the International Weightlifting Federation and the International Handball Federation.

The IOC has set aside what it calls an "aid package" of $150 million (£123 million/€138 million) to help IFs, National Olympic Committees and other stakeholders to address financial concerns caused by the coronavirus pandemic.

All 32 eligible IFs on the Tokyo 2020 programme - the International Boxing Association is excluded owing to its suspension as the Olympic governing body for the sport - can receive money from the IOC package.

The ISSF is expected to avoid the worst of the financial consequences resulting from the coronavirus pandemic ©Getty Images
The ISSF is expected to avoid the worst of the financial consequences resulting from the coronavirus pandemic ©Getty Images

The IOC fund could be used to provide loans and advance payments on revenue shares from the postponed Tokyo 2020 Olympic Games.

The IOC said donations could also be covered by the scheme and support will "come in different forms and will be decided after an assessment of needs and on a case-by-case basis".

A number of IFs representing sports included on the Tokyo 2020 programme are facing cashflow challenges of varying degrees of severity as a result of the expected postponement by one year of multi-million dollar payments they would normally have expected to receive from the IOC soon after the Games' completion.

This is not expected to apply to the ISSF, which is in the third tier of IFs and would have been paid the bulk of its $18.6 million (£15.3 million/€17.1 million) share of the Tokyo 2020 revenue in September had the Games gone ahead as planned.

A joint Swiss Government and IOC loan scheme has also been set up for Swiss-based Federations.

The IOC's contribution to the scheme, which offers those Federations in Switzerland interest-free repayable loans to mitigate the financial impact of the coronavirus crisis, will come from the aid package.

The ISSF is not eligible for money from this fund as it is based in Munich.