UK Athletics has been hit by a serious cash crunch after gone through organization tumult of late. First, it’s biggest money-spinner flagship event- the Annversary Games in July has been put off due to coronavirus pandemic.
Secondly, the BBC is only willing to pay a slight percentage of £3m-a-year TV deal to renew it’s contract.
But UKA has confirmed that all those who have bought tickets will get their refund.
Inside source confirmed that UKA may be loosing somewhere in region of £2m.
In a sympathetic tone, Jo Coates, the UKA chief executive admitted the decision to call off the event at the London Stadium would have a “significant financial impact on UKA and wider sport”.
He further said “the revenue we generate from events-through ticketing, broadcast and sponsorship helps administer the sport and provide the essential governance service that we oversee”.
