- World Athletics CEO Jon Ridgeon reveals organisation is “exploring possible ideas” around events, products and data
- Governing body not looking to sell existing rights
World Athletics is seeking to put on new events which it says will help boost income for the global governing body and its athletes.
The Times reports that World Athletics has turned to sports marketing agency Two Circles and Oakwell Sports Advisory – which advised CVC Capital Partners on its UK£365 million (US$495 million) Six Nations rugby union investment – as part of efforts to generate new revenue streams.
Speaking to The Times, World Athletics chief executive Jon Ridgeon said there was no plan for the organisation to sell any of its existing rights and, instead, would be looking to create new opportunities.
“This is in the early stages and it will start by exploring possible ideas,” Ridgeon said. “We are not doing this because we are in any trouble as an organisation. Financially we are doing pretty well.
“But we now need to look at ways to take the sport forward at a time when we have so many major events coming up. It’s about looking at new events, new products, utilising data – and hopefully providing more money to more athletes.”
World Athletics had already revealed its intention to expand its calendar when it announced China’s Wanda Group as the title partner of the Diamond League series in September 2019. The ten-year agreement, which is reportedly worth more than US$100 million, included provision for a new annual Diamond League meeting in China organised by Wanda Sports.
Also included in the contract was a media rights agreement for a secondary international athletics series, the World Athletics Continental Tour, which replaced the World Challenge competition. So far, the new tour is set to hold 130 meetings in 2022.
This year’s World Athletics schedule is headlined by the World Athletics Championships, which will be held in Eugene, Oregon, from 15th to 24th July. Other notable competitions in 2022 include the World Athletics Indoor Championships in Serbia from 18th to 20th March and the World Athletics U20 Championships in Columbia from 1st to 6th August.
