World Athletics announced a loss exceeding 1.5 million euros ($1.7 million US) due to systematic theft involving individuals within the organization. Following an audit revealing suspicious activities over multiple years, World Athletics reported the matter to relevant legal authorities for further investigation. As a result, one employee and a consultant had their contracts terminated, while another employee had already departed.
Although World Athletics did not disclose the identities of the suspected individuals involved in the theft, the governing body, headquartered in Monaco, stated that it had contacted authorities in Britain and Monaco regarding the issue. World Athletics President Sebastian Coe expressed determination to pursue legal action to recover the stolen funds, emphasizing the organization’s commitment to transparency and ethical conduct.
Coe emphasized the importance of addressing such incidents openly, stating, “Too many organizations sweep such occurrences under the rug, allowing wrongdoers to perpetuate their actions elsewhere. We are not that kind of organization.” Highlighting World Athletics’ principles of good governance and integrity, Coe stressed the significance of taking appropriate action in confronting uncomfortable situations.
The amount reported stolen by World Athletics surpasses half of the prize money awarded to gold medalists at the previous year’s Paris Olympics, totaling $2.4 million. World Athletics disclosed a revenue of $99.4 million for 2024, citing a boost from Olympic-related income.