The "full financial challenge" facing the organizers of the London 2017 World Athletics Championships "has been laid bare in documents," according to Martyn Ziegler of the LONDON TIMES. The documents "reveal that the championships, to be held at the Olympic Stadium and regarded as one of the biggest on the international sporting calendar," has still to fill a sponsorship gap of £7.5M despite the high-profile nature of the event, at which Usain Bolt, the 100m world record-holder, "is expected to make his final appearance before retiring."
Six senior figures have resigned from London 2017 since February but London 2017 Dir and UK Athletics CEO Niels de Vos "insisted that preparations are on course and that the event is within budget and is predicted to make a small surplus." The budget for the 2017 championships and the government’s agreement to underwrite the event are "already being heavily supported by public money," which has a total expected expenditure of £55M ($79M). The budget document states that £11M ($15.8M) is expected from commercial income with £7.5M ($10.7M) of that from sponsorship. Not a single sponsor "has yet been found for the event." Department for Culture, Media & Sport Permanent Secretary Sue Owen called UK Athletics Chair Ed Warner and De Vos in for a meeting last month "where she demanded reassurances that the government would not be called upon to bail out the event." The '17 budget shows that the championships "are being supported to the tune" of £16.6M ($23.9M) from public money, with £7.7M ($11M) coming from UK Sport and £8.9M ($12.8M) from the Greater London Authority. Some £18M ($25.9M) is expected from ticket sales, £2.9M ($4.1M) from UK Athletics and £1.2M ($1.7M) from accommodation. UK Athletics "is also providing" a further £5M ($7M) in prize money.
Details of ticket sales, "which will provide the bulk of the income, are due to be announced" on Tuesday (LONDON TIMES, 4/19).
