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UK Athletics would accept £10m pay off – sources

By Sean Whetstone

UK Athletics are in serious trouble after running up huge losses and are rapidly burning through its cash reserves.

Financial figures released last month show UK Athletics returned a massive £1.8million loss and savings have plummeted from £2.2m to just £430,000 in the space of a year for the 2021/2022 period.

Despite income for the year rising by 40 per cent to £18.1m, the soaring outgoings of £19.6m meant post-tax operating losses of £1.8m, dwarfing the £103,000 deficit reported in UKA’s 2020-21 accounts, which were heavily influenced by the reduced operations brought on by COVID

Since then, UKA has felt the full bite of losing their lucrative £3m-a-year BBC deal in 2020, and it is a source of growing consternation that they no longer have a lead sponsor, though a moderate-scale commercial partner is due to be announced in the new year.

Sources close to UKA claim they would accept a £10m pay off from London Stadium owners LLDC to tear up their onerous 50 year contract which costs the taxpayer millions in subsidy to transform each summer.

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About Hugh5outhon1895

Hugh Southon is a lifelong Iron and the founding editor of ClaretandHugh. He is a national newspaper journalist of many years experience and was Bobby Moore's 'ghost' writer during the great man's lifetime. He describes ClaretandHugh as "the Hammers daily newspaper!" Follow on Twitter @hughsouthon

One comment on “UK Athletics would accept £10m pay off – sources

  1. Pay it now! Paves the way for us to buy/takeover the stadium and run it on a sensible commercial basis with further works to improve football experience.

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