UK Athletics has reported a surplus for the first time since 2017, two years after facing the threat of bankruptcy.
The governing body announced a record annual loss of £3.7m in 2023 but has implemented strict measures to generate a surplus of £107,588.
UK Athletics (UKA) introduced tighter cost controls and restructured internally (reducing staff numbers from 72 to 62) and “reducing support for some programmes”.
UKA has also reached a “groundbreaking” deal with the organizers of the London Marathon and Great North Run in 2024 to help it tackle financial crises.
“I’m very pleased that we are making a profit again – it is an important moment for UK Athletics and a real sign that the steps we have taken over the last two years are working,” UKA president Ian Beattie said.
“But I don’t underestimate how difficult it has been to return to this position. It has taken difficult decisions, careful management and the commitment of many people to turn things around.”
“The organization has gone through a period of real change. We have had to make savings in all areas, including layoffs and reduced support for some programs outside the World Class Performance system.
“Those decisions were extremely difficult and never made lightly, but they were necessary to ensure the long-term stability of the sport. We are now a leaner, more streamlined organization and more focused on the essentials and the right culture, but we are also a stronger organization as a result.”