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Heavy losses in World Athletics 2018 accounts but little light shed on Dentsu renegotiation

Olympic pole vault champion Katerina Stefanidi will sit on the working group for World Athletics' relief fund (Photo by Michael Steele/Getty Images)

A leaked copy of World Athletics' 2018 financial accounts has shed more light on the constrained financial picture for the federation and referenced its attempts to renegotiate some of the controversial commercial contracts agreed by its former president Lamine Diack.

The accounts, seen by The Sports Examiner, shows the organisation, formerly called the IAAF, made a loss of $19.33m (£15.36m /€17.77m) in 2018, having generated $47.51m in revenues against operating expenses of $66.84m. SportBusiness has not seen the statements but the governing body has confirmed the publication’s reporting of the figures to be accurate.

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