Japan will no longer host the 2021 Club World Cup due to ongoing problems with coronavirus.

After hosting the 2020 Olympics, Japan were set to put on the international club football tournament – usually held in December – but have decided to relinquish its right to the event after discussions with FIFA.

The Japan Football Association (JFA) were preparing to stage the competition for the first time in five years, but with coronavirus-related issues still lingering fears grew as to whether the decision would be profitable.

According to Japanese outlet Kyodo News Agency, the JFA chief executive Kiyotaka Suhara revealed the decision in a virtual press conference following a board meeting on Thursday.

Suhara explained "we had to make a decision at this time", and the news follows on from the JFA president Kozo Tashima claiming that the federation had to "dip into savings" due to the absence of supporters at national team fixtures throughout the year.

FIFA is yet to comment or announce an alternate location or dates for the Club World Cup, but the announcement further compounds Japan's problems after they were forced to cancel a friendly match with England earlier in 2021.