UK Athletics announces joint venture to tackle financial crisis

UK Athletics has announced a groundbreaking new joint venture with the organizers of the London Marathon and Great North Run in an effort to address a financial crisis that has been looming over the organization. The partnership, known as Athletic Ventures, aims to transform the future and growth of the sport in the UK by overseeing major events such as the 2026 European Athletics Championships in Birmingham and the yearly Diamond League event in the UK.

The move comes after UKA faced significant financial challenges, with most of its deficit attributed to the staging of major events. Despite receiving funding from UK Sport to help stage last year’s Diamond League meeting, UKA reportedly suffered losses ranging from £100,000 to £500,000. Additionally, the organization has seen a decline in broadcast and commercial revenues in recent years, and has been without a title sponsor since 2022.

UKA chief executive Jack Buckner expressed optimism about the new partnership, stating that it will not only rejuvenate British athletics but also elevate the sport to the popularity it enjoyed in the 1980s. With the expertise of London Marathon Events and The Great Run Company, UKA aims to find new commercial partners for athletics in the UK and potentially secure the hosting rights for the World Athletics Championships in 2029.

The collaboration between UKA, London Marathon Events, and The Great Run Company is seen as a significant step towards revitalizing athletics in the UK. As the most watched sport at the Olympic and Paralympic Games, athletics has the potential to capture the attention of millions both domestically and internationally. With the upcoming Diamond League meet at the London Stadium and other major events on the horizon, the future looks promising for British athletics and its talented athletes.