It's a view shared by Australian Olympic Committee chief executive Matt Carroll and FFA boss James Johnson, who will "open up discussions" with FIFA and the Asian Football Confederation.
"We want to organize the best Games possible", IOC President Thomas Bach said in a conference call with reporters, adding that "this postponement will require sacrifices and compromises from all parties".
"I think with good working relationships, together we can get over all those technical details and ensure that people who have qualified remain qualified", he said.
Let's start with the biggest question... what took them so long to postpone the Games?
His remarks come hours after Japan's Prime Minister Shinzo Abe made the official announcement on Tuesday that the Tokyo Games - formally known as the Games of the XXXII Olympiad - would be held instead "by the summer of 2021". "These Games are called the Olympic Games Tokyo 2020 therefore for me it is a logical effect that sponsors of the Olympic Games Tokyo 2020 keep their rights if these Games are organised in 2021".
The IOC's announcement that the Games will still be known as Tokyo 2020 will allay some of the fears of partners who have put marketing funds into campaigns based on that branding but some companies are unsure of how to proceed.
The Games were put back to 2021 on Tuesday after the International Olympic Committee and Japanese organisers were warned by the World Health Organisation that the spread of coronavirus was accelerating across the planet.