Boxing Australia, Judo Australia and Australian Taekwondo will equally own the entity, which the organisations said had been created to ensure "a dedicated high performance focus, significantly increased and more secure funding and access to a greater range of performance support services."

Funding from the Australian Institute of Sport will go directly to the new organisation rather than to each separate body.

The three National Sports Organisations (NSOs) will all have a seat on the Board of seven independent directors, to be led by a chief executive and a high performance director or equivalent role.

They will also retain direct affiliations with their International Federations, the Australian Olympic Committee, Commonwealth Games Australia, Paralympics Australia and any other similar organisations.

Athletes will not be adversely affected by the creation of the new entity, the organisations claim.

"The NSOs, the AIS and key partners will be working closely to ensure there are no distractions or negative impact on campaigns for the postponed Tokyo 2020 Olympic and Paralympic Games in 2021," the three NSOs said in a statement.

"This transition being completed by January 2021 will set a strong and stable platform for future planning and success at Birmingham 2022, Paris 2024 and beyond."