The UCI has borrowed $5 million from the IOC because of Tokyo 2020's postponement ©Getty Images

The International Cycling Union (UCI) has borrowed $5 million (£3.6 million/€4.2 million) from the International Olympic Committee (IOC) to help mitigate the impact of Tokyo 2020's postponement.

The figure is revealed in the body’s newly-published 2020 financial statements.

It is the biggest such loan that has so far come to light since the IOC published a list of 15 International Federations (IFs) it was lending money to just over a year ago.

UCI director general Amina Lanaya said the pandemic "was - and continues to be - a major challenge for our federation".

She added: "Today, the future looks brighter, but we are prepared to react should the current situation last longer than expected."

The new accounts disclose that the UCI lost a relatively manageable CHF1.78 million (£1.4 million/$1.95 million/€1.65 million) at the operating level in 2020, with the net deficit further restricted to CHF1.05 million (£827,000/$1.15 million/€971,000).

This was on annual revenues that tumbled by about a quarter from CHF40.7 million (£32.1 million/$44.5 million/€37.6 million) in 2019 to CHF29.1 million (£22.9 million/$31.8 million/€26.9 million).

UCI President David Lappartient acknowledged that 2020 was "a very difficult year for world sport", but claimed the organisation was now in "a very good position to ensure the growth of our sport and its increasing contribution to a healthy evolution of our society".

The UCI is looking for a new host for this year's Track Cycling World Championships  ©Getty Images
The UCI is looking for a new host for this year's Track Cycling World Championships ©Getty Images

Year-end assets stood at a comfortable CHF90.6 million (£71.4 million/$99.1 million/€83.8 million), of which CHF56.9 million (£44.8 million/$62.2 million/€52.6 million) were classified as long-term.

The IOC announced last July it had allocated around $63 million (£45.4 million/€53.3 million) to IFs, with 15 Summer Olympic IFs in all being handed loans.

At the time, for some reason, specific amounts made available to individual IFs were not disclosed.

However, details are now beginning to trickle out, with the International Swimming Federation (FINA) thought to have received $1 million (£720,000/€850,000), World Sailing $3.1 million (£2.25 million/€2.6 million), the International Gymnastics Federation (FIG) around $1.5 million (£1.05 million/€1.23 million) and the International Tennis Federation (ITF) $3 million (£2.2 million/€2.55 million).

Moreover, a line buried in the newly-published 2020 IOC financial accounts suggests that financial support extended to the IFs in the year may actually have totalled $40.66 million (£29.3 million/€34.4 million).

The sums loaned are now expected to be docked from the amounts each individual IF is earmarked for the contribution of its sport to Tokyo 2020.

The UCI accounts also reveal that Lappartient’s remuneration, including allowances, social charges and pension costs, edged up last year to CHF428,000 (£337,000/$468,000/€396,000) from CHF424,000 (£334,000/$464,000/€392,000) in 2019.

His travel expenses, however, dropped from CHF126,000 (£99,000/$138,000/€117,000) to CHF55,000 (£43,000/$60,000/€51,000).