UK ATHLETICS DELIVERS FIRST SURPLUS IN SEVERAL YEARS AS FINANCIAL TURNAROUND CONTINUES

UK ATHLETICS DELIVERS FIRST SURPLUS IN SEVERAL YEARS AS FINANCIAL TURNAROUND CONTINUES

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

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

Even last year, the national governing body reported losses of £ 1.2 million. That was an improvement on the record £ 3.7 million deficit 12 months earlier, but underlined the financial challenges inherited by Jack Buckner, the UKA chief executive, and the chairman, Ian Beattie.

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

Reflecting on the results, UKA Chair Ian Beattie issued the following statement:

“I am very pleased that we are back in profit — it’s an essential moment for UK Athletics and a real sign that the steps we have taken over the past two years are working. But I don’t underestimate how difficult it has been to get back to this position. It has taken hard decisions, careful management, and the commitment of a great many people to turn things around.

The organisation has undergone significant change. We have had to make savings across every area, including redundancies and reduced support for some programmes outside the World Class Performance system. Those decisions were extremely tough and never taken lightly, but they were necessary to secure the sport’s long-term stability. We are a leaner organisation now — more streamlined and more focused on the essentials and the right culture — but we are also a stronger one as a result.

“Our move into surplus is a genuine 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 key to this recovery, enabling us to share resources, reduce risk, and build a sustainable commercial model that benefits the whole sport. That partnership has already brought new sponsors such as Vita Coco and Novuna, whose multi-year title agreement supports both our major events and the Great Britain & Northern Ireland team. Alongside them, our long-standing partner Nike has continued to provide unwavering and vital support throughout this period, remaining central to the turnaround, for which we are hugely grateful.

“We are also grateful for the continued commitment of UK Sport, whose funding for our World Class Programme has been instrumental in supporting athletes through this period of change, and whose investment for the Los Angeles 2028 cycle will be vital as we build towards the next Olympic and Paralympic Games. We also appreciate the backing of the BBC, whose new five-year broadcast deal will ensure world-class coverage of our most significant domestic events — including the Novuna London Athletics Meet — through to 2029. Their belief in the appeal of athletics gives us absolute confidence in the sport’s future.

“None of this means the job is done. We are still working to reduce our accumulated deficit, rebuild reserves, and manage the challenges posed by reduced public funding and rising costs. But this is a turning point — the start of a new chapter for UKA. We are operating differently, working more collaboratively and thinking long-term. I believe we are now in a position to push on: to continue the recovery, to strengthen the sport’s foundations, and to support our athletes and coaches as we look towards the next Olympic and Paralympic cycle.

“Next year brings an exciting milestone with the European Athletics Championships in Birmingham, the first major championship to be staged 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 want 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 commitment has made this progress possible. We still have work to do, but we have shown that UK Athletics can adapt, rebuild, and thrive — and that we are on the right path.”

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

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

The accounts do not include revenue from the London Diamond League event in July, which benefited from the new joint venture between UKA, London Marathon Events, and the Great Run Company. A new sponsorship has also been secured, backed by Novuna. The sell-out, 60,000-ticketed event is believed to have made a profit this year, after previously running at a loss.

Reaction from readers in The Times was mixed, with one reader offering “congratulations to Jack Buckner and Ian Beattie for this turnaround”.  Others expressed concern that, despite all the income from UK sport, national lottery money, etc., “UK athletes were still not performing on the major stages”, highlighting the lack of gold medals in the recent World Championships.  Despite significant relay funding, the team went from 5 relay medals in the Olympics to none in Tokyo.  This illustrates the challenge of a governing body responsible for the sport at all levels, yet mainly judged by elite performance.