diff --git a/redbot/cogs/downloader/repo_manager.py b/redbot/cogs/downloader/repo_manager.py
index a12ec9030..9985e08bd 100644
--- a/redbot/cogs/downloader/repo_manager.py
+++ b/redbot/cogs/downloader/repo_manager.py
@@ -540,9 +540,6 @@ class RepoManager:
     def __init__(self):
         self._repos = {}
 
-        loop = asyncio.get_event_loop()
-        loop.create_task(self._load_repos(set=True))  # str_name: Repo
-
     async def initialize(self):
         await self._load_repos(set=True)
 
diff --git a/redbot/setup.py b/redbot/setup.py
index 20e2c848f..797cbd841 100644
--- a/redbot/setup.py
+++ b/redbot/setup.py
@@ -409,8 +409,9 @@ async def create_backup(instance):
             from redbot.cogs.downloader.repo_manager import RepoManager
 
             repo_mgr = RepoManager()
+            await repo_mgr.initialize()
             repo_output = []
-            for _, repo in repo_mgr._repos:
+            for repo in repo_mgr._repos.values():
                 repo_output.append({"url": repo.url, "name": repo.name, "branch": repo.branch})
             repo_filename = pth / "cogs" / "RepoManager" / "repos.json"
             with open(str(repo_filename), "w") as f: