UK ATHLETICS FIRST EMPLOYMENT IN YEARS FINANCIAL STRIKE CONTINUES

UK Athletics (UKA) has reported a surplus for the year ending 31 March 2025, the organisation’s first for several years, marking a significant milestone in its plan to restore stability and confidence in the sport’s national governing body.

The result follows a period of significant change for UKA, including tighter cost controls, complex internal restructuring decisions and a sharper focus on core programmes. It also reflects the success of Athletic Ventures, a joint venture between UKA, London Marathon Events and The Great Run Company, which has enabled a more collaborative and commercially sustainable approach to the growth of event delivery, sponsorship and broadcasting.

Even last year the national governing body reported losses of £1.2m. It was an improvement on the record £3.7m shortfall 12 months ago, but highlighted the financial challenges inherited by Jack Bucker, UKA’s chief executive, and chairman Ian Beattie.

However, for the financial year to the end of March this year, UKA reported a surplus of £107,588. This included reducing the number of staff from 72 to 62.

Commenting on the results, UKA President Ian Beattie made the following statement.

“I am very pleased that we returned with a profit. it’s an important moment for UK athletics and a real sign that the steps we’ve taken over the last two years are paying off. But I’m not underestimating how hard it was to get back into this position.

The organization has undergone significant changes. We have had to make savings across the board, including layoffs and reduced support for some programs outside of the World Class Performance System. Those decisions were extremely tough and never taken lightly, but they were necessary to ensure the long-term sustainability of the sport. We are now a leaner organization, more modern and more focused on the basics and the right culture, but we are also stronger as a result.

“Our move to surplus is a real achievement, but it reflects more than just sound financial management. It speaks to a new, more collaborative way of working, both internally and through our partnerships. The formation of Athletic Ventures has been instrumental in this recovery, enabling us to share resources, reduce risk and build a sustainable business model that benefits the sport as a whole. whose multi-year title deal supports both our main events and the UK and Northern Ireland team, alongside them, our long-term partner Nike has continued to provide unwavering and vital support throughout, remaining pivotal to the turnaround, for which we are extremely grateful.

“We are also grateful for the continued commitment of UK Sport, whose funding for our World Class program has helped athletes through this time of change, and whose investment in the Los Angeles 2028 cycle will be vital as we build for the next Olympic and Paralympic Games. Athletics Meet — through 2029. Their belief in the appeal of athletics gives us absolute confidence in the future of the sport.

“None of this means the work is done. We are still working to reduce the accumulated deficit, restore reserves and manage the challenges posed by cuts in public funding and rising costs. But this is a turning point. The beginning of a new chapter for the United States. We operate differently, more collaboratively and think long term. athletes and coaches as we look to the next Olympic and Paralympic round.

“Next year brings an exciting event with the European Athletics Championships in Birmingham, the first major championship organized by Athletic Ventures. It will be a powerful showcase for the partnership model that has helped drive our recovery and a significant opportunity to celebrate our athletes on home soil.

“I would like to thank the Board, the executive team, our partners and, above all, our staff for their professionalism and resilience during what has been a demanding period. Their dedication has made this progress possible. We still have a way to go but we have shown that UK athletics can adapt, rebuild and grow and that we are on the right track.”

To view the 2024/25 audited accounts follow this link.

UK-Athletics-Limited-2025-Final-Accounts-2025.pdf

The figures do not include revenue from the London Diamond League event in July, which benefited from a new joint venture between UKA, London Marathon Events and the Great Run Company. New sponsorship has also been secured with support from Novuna. The sold-out, 60,000-ticket event is believed to have turned a profit this year, after previously running at a loss.

Reaction from readers of The Times was mixed, with one reader offering “congratulations to Jack Buckner and Ian Beatty on this turnaround”. Others expressed concern that despite all the income from British sport, National Lottery money and so on, “UK athletes were still not performing on the main stages”, highlighting the lack of gold medals at the last World Championships. Despite substantial funding for the relay, the team went from five Olympic medals to none in Tokyo. This illustrates the challenge of a governing body responsible for sport at all levels, yet largely judged by elite performance.