UK Athletics face £3m hit as Anniversary Games cancelled
THE crisis at UK Athletics intensified yesterday after the cancellation of the Anniversary Games left a major hole in their finances. While it is no surprise that their flagship event on July 4 has fallen to the coronavirus pandemic, its removal from the 2020 Diamond League calendar has left the struggling organisation with a headache over an estimated £3million in lost revenue. Given their once-healthy reserves were down to £2.8m in the most recent accounts, the loss of UKA’s biggest money-maker of the year is a significant blow. Other events on the Diamond League circuit have been postponed during the crisis, but UKA have been severely hamstrung by their limited use of the London Stadium owing to West Ham’s Premier League commitments. The setback comes days after an independent report commissioned by UK Sport drew a number of damning conclusions about the body, whose new CEO Joanna Coates has previously insisted they would not be at risk of bankruptcy in the event of losing their 2020 schedule. The financial test of this season could yet become worse depending on the fate of the rescheduled British Championships on August 8 and 9, and the Gateshead Diamond League meet on August 16. Coates admitted: ‘We are hugely disappointed, but we must place the safety of the entire athletics family at the forefront of every decision we make during these unprecedented times and ensure that we are following government advice. ‘Cancelling the event will have a significant financial impact on UKA and the wider sport. The revenue we generate from events — through ticketing, broadcast and sponsorship — helps administer the sport. ‘We’re incredibly thankful to our commercial partners, some of whom are continuing to support us during these tough times.’ UKA were already facing difficulty in the renewal of their £3m-ayear TV deal with the BBC, which expires this summer. The broadcaster is understood to be unwilling to pay as much this time round for the rights, which include the Anniversary Games.