The IOC on Sunday stated that it is considering putting the Games, due to start on July 24, back and will make a decision in the next four weeks, but the extravaganza will not be cancelled.
Long-serving IOC member Pound on Monday revealed the event will not go ahead as planned.
He told USA TODAY Sports: "On the basis of the information the IOC has, postponement has been decided.
"The parameters going forward have not been determined, but the Games are not going to start on July 24, that much I know."
Pound added that further details will be revealed in the near future.
"It will come in stages,” the Canadian said. "We will postpone this and begin to deal with all the ramifications of moving this, which are immense."