The UCI has implemented a series of cost-cutting measures due to the coronavirus pandemic and the financial impact of the current race suspensions.

Nearly a third of all races on the UCI calendar have been canceled or requested to be postponed due to the COVID-19 pandemic, while the governing body has acknowledged that postponing the 2020 Tokyo Olympics would result in "considerable revenue losses."

In a statement on Thursday, UCI announced that all 130 staff members have been placed on full or partial furlough and senior management and elected members have taken unspecified pay cuts.

It also said it was "scaling back" solidarity projects for national federations, revising its financial goals for the next few years, and considering contracting with outside service providers and consultants.

"Our International Federation is going through a crisis that we have not experienced since World War II," said UCI President David Lapartiento. [Athletes, teams, organizers, partners, and the vast majority of people and organizations that contribute to the vitality of the sport are all at a standstill. The UCI, the governing body of cycling, is no better."

"The postponement of the Tokyo 2020 Olympic and Paralympic Games, the many postponements and cancellations of events on the UCI international calendar, and the uncertainty that weighs on the second half of the season, our sport in general, and our federations in particular."

The postponement of the Tokyo Olympics to the summer of 2021 means a delay and reduction in the revenue the UCI will ultimately receive from the Games; the UCI said it is "in constant communication" with the IOC about the costs incurred by the postponement of the Olympics.

"It should be anticipated that the amount paid to the International Sports Federations may be reduced," the UCI said. The amount "will allow the UCI, through the UCI World Cycling Center (WCC) and its satellite centers around the world, to fulfill its development mission to the 196 National Federations during the Olympic Games.

The UCI said that its own commercial activities have been suspended since the closure of its headquarters in Aigle, Switzerland, on March 16, adding that its "asset portfolio has been hit by the effects of the pandemic in the financial markets and the crash in oil prices."

The UCI has held conference calls in recent weeks with representatives of riders (CPA), teams (AIGCP), and race organizers (AIOCC) to discuss contingency plans, including extending the season through November and rescheduling postponed races to the fall.

In recent days, many WorldTour teams have cut athlete salaries and laid off support staff due to the economic impact of the coronavirus outbreak, and the UCI has set up a working group with the CPA and AIGCP to help teams in financial difficulty to continue their activities. It announced that it had set up the group so that it could take "necessary measures."

"With this temporary flexibility approved by the professional road cycling riders, our federation wishes to support the teams whose activities have been affected by Covid-19 in accordance with UCI rules, while respecting the rights of the riders," said the UCI.

Thursday's UCI statement did not provide details on the structure of the race calendar, which will be compressed and revised in late 2020, but included the UCI Road World Championships in Aigle and Martigny from September 20-27, held under the auspices of the UCI The desire to run profitable events was emphasized.

"The UCI World Championships and the UCI World Cup are being given particular consideration. Each of the Mercedes-Benz UCI Mountain Bike World Cup events is crucial to the Federation's bottom line. The postponement or cancellation of many UCI events and the general economic situation have, of course, affected the Federation's overall marketing efforts."

The UCI recently announced the schedule for the Egle Martini World Championships in September, and team directors, including Deceuninck-Quick Step's Patrick Lefebvre and Jumbo-Visma's Richard Plugge, have asked that the weekend of September 19-20, the men's World Tour race for holding the elite men's time trial on the opening Sunday, rather than leaving the weekend of September 19-20 open for the men's World Tour race.

"It is time for the cycling family to rally and come together and prepare for our sport to recover from this health and economic crisis," Lapartiento said on Thursday. 'It is imperative that each and every one of us remain united, responsible, and strong. That is why the UCI has taken drastic action to weather the storm. These are difficult choices, but necessary if we want to rebuild cycling after Covid 19."