The news of the rescheduling, after the 11^th hour cancelation brought on by Victoria's snap five-day lockdown has comes as a huge relief to organisers who faced the prospect of having the refund thousands in sponsorship dollars for the $35,000 event.

It's also a win for athletes, many who use Ballarat as the key lead-up race to the Stawell Gift at Easter which is scheduled this year for Monday April 5.

Ballarat Gift secretary John Jones said there would be some small tweaks to the originally scheduled program including a new start time and also a change of times for presentations.

"The Monday timetable will be unchanged but Sunday will have a new start time of 12 noon," he said.

Sponsors and VIPs are being contacted in order to reschedule appearances, but those unable to attend on the Monday are urged to contact organisers.