FISA said the new competition would have multiple rounds, reaching its climax with a "live virtual competition" where performances can be compared in real time.

Those finals are due to be held on February 27 and 28 in 2021.

Anyone who can access a Concept2 static rowing machine will be able to enter and compete from anywhere in the world.

"FISA aims to organise a fair World Rowing Indoor Championships which will be open and accessible to competitors from around the world," FISA President Jean-Christophe Rolland said.

"This funnelled approach to a final round of racing will allow FISA to create a dynamic sport presentation with a strong athlete-focused narrative."

The new format will enable FISA to promote indoor rowing better to lower levels of ability, the governing body said.

Rules, the qualification process and race categories are yet to be finalised.

Moving the competition to a virtual format protects it from cancellation if the coronavirus pandemic has not been brought under control at the start of next year, which FISA says will "minimise financial risk for all stakeholders".

This year, the Indoor World Rowing Championships were held in Paris in early February.

Since then, the pandemic has brought the sporting calendar to almost a complete halt, cancelling or postponing countless events.