The UCI’s annual report revealed a provision of CHF1.14 million had been made in 2017 following the bankruptcy of the local Organising Committee, known as Bergen 2017 AS.

It had budgeted €16.5 million (£15 million/$19 million) for the week-long event, with the total cost later reported as being €23.6 million (£21.5 million/$27.5 million).

The Norwegian Cycling Federation is jointly liable for the provision provided by the UCI, with the debt recorded under race organisers.

The UCI revealed last year that it was pursuing recovery from the Norwegian Cycling Federation, noting that it did not anticipate any material recovery from the Bergen 2017 bankruptcy proceedings.

A debt reimbursement repayment plan was agreed this year with the Norwegian Cycling Federation, which will see the sum repaid over a 10-year period.

A report published by the Norwegian University of Science and Technology Center for Sport and Culture Management Research in 2018 found the Organising Committee for the World Championships had inadequate financial control, with poor insight into the complexity and financial risks involved in hosting the event.

The expected income from sponsors was viewed as too ambitious and income from hospitality lower than anticipated, while costs of preparing the courses were underestimated in the original budget.

Weakening of the Norwegian krone compared to the euro was considered another reason for the debt, with the UCI’s hosting fee having become higher than expected due to unfavourable changes to the exchange rate.

The event was found to have been well received by residents of Bergen, although it was also found not to have had an impact on people riding their bikes for fitness or as daily transport.

The World Championships had reportedly seen around 700,000 spectators view competitions on the road across its duration, taking place from September 16 to 24 in 2017.

Slovakia’s Peter Sagan became the first man to win three successive road race titles at the World Championships, having also triumphed in 2015 and 2016.

The Netherlands’ Chantal Blaak won the women’s elite road race, while fellow Dutch stars Tom Dumoulin and Annemiek van Vleuten were crowned winners of the men’s and women’s time trial events respectively.

The 2014 UCI Road World Championships in Ponferrada also saw the host suffer financial difficulties.

Organisers in Spanish city were reported in 2015 to have had losses of up to €9 million (£8.2 million/$10.5 million) for the event.