Original drawing of Olympic rings sells for €185,000

If the proposal is accepted, it will be the first time in 100 years that cross-country racing appears at the Olympics. John Walton/PA Images via Getty Images

An original drawing of the Olympic rings by the founder of the modern Games, Pierre de Coubertin, has fetched €185,000 at auction in Cannes, the auction house said.

"The drawing was sold to a Brazilian collector for a price of €185,000 plus 27% costs, or €234,950," associate director of Cannes Encheres Alexandre Debussy told French media.

Coubertin created the interlocking rings, which are coloured blue, yellow, black, green and red on a white field, in 1913. They officially debuted at the 1920 Olympic Games in Antwerp.

The Olympic Manifesto, which was written by Coubertin in 1892 and led to the revival of the Olympic Games, sold for over $8 million at an auction in New York City in December last year.

The 2020 Tokyo Olympic Games were postponed until 2021 due to the coronavirus pandemic.

The Tokyo Olympics are scheduled to open on July 23, 2021, however, the president of the organizing committee Yoshiro Mori has said the tournament could not be held next year if conditions surrounding the coronavirus pandemic continue as they are.

The International Olympic Committee (IOC) and Japanese organizers have repeatedly expressed confidence the Games will take place, though they have offered few details on how they can happen during a pandemic.

The IOC and organizers have also said the Olympics will not be postponed again and would be canceled.

"It would be too much for us to answer each of these hypothetical questions,'' Mori said. "I don't think this situation will last for another year.'

"Whether the Olympics can be done or not is about whether humanity can beat the coronavirus.

"Specifically, to develop a vaccine or drug is the first point.''

Information from the Associated Press contributed to this report.