The Canadian Olympic Committee (COC) and Canadian Paralympic Committee (CPC) have expressed their gratitude following significant financial support from the Canadian Government.
Minister of Canadian Heritage Steven Guilbeault announced the CAD72 million (£41million/$51million/€47million) investment into the country's sport sector, which has been severely affected by the coronavirus pandemic.
National sport organisations and institutes will receive CAD34.5 million (£19.8million/$24.6million/€22.8million), provinces and territories CAD32.5 million (£18.6million/$23.1million/€21.5million) and the athlete assistance programme CAD5 million (£2.8million/$3.5million/€3.3million).
Both COC and CPC have expressed their gratitude for the support.
"We are sincerely grateful to Prime Minister Justin Trudeau and Minister Guilbeault for announcing the $72M investment to support the Canadian sport system," they said in a joint statement.
"National Sport Organisations (NSOs) are facing significant obstacles, including limited cash flows, layoffs and uncertainty.
"Along with this funding package, the COC and CPC will fully support the NSOs and broader sport community.
"We remain committed to playing our role in COVID-19 relief and recovery in concert with our partners at the Government of Canada."
Canada has reported around 66,000 cases of coronavirus, resulting in more than 4,500 deaths.
Events due to be held in Canada including the World Figure Skating Championships, tennis' Rogers Cup and Formula One's Canadian Grand Prix have had to be postponed or cancelled due to the pandemic.