World Athletics has reported a loss of over 1.5 million euros ($1.7 million US) due to what it describes as “systematic theft” involving individuals within the organization. Following an audit that revealed suspicious activities spanning multiple years, World Athletics has taken action by providing detailed case information to authorities for further investigation. The organization has terminated the contracts of one employee and a consultant, while another employee had already departed.
Although World Athletics did not disclose the identities of the individuals suspected of the theft, it has confirmed reaching out to authorities in Britain and Monaco regarding the matter. World Athletics president Sebastian Coe has expressed the organization’s commitment to pursuing legal measures to recover the stolen funds, emphasizing the importance of transparency and accountability.
Coe highlighted the organization’s stance on addressing such incidents openly, contrasting it with the practice of sweeping such issues under the rug. He emphasized the importance of upholding principles of good governance and integrity, stating that it is crucial to take the necessary steps regardless of the discomfort involved.
The amount reportedly misappropriated by World Athletics exceeds half of the prize money awarded to gold medalists at the previous year’s Paris Olympics, a significant contribution to the organization’s overall revenue. World Athletics disclosed a total revenue of $99.4 million for 2024, which was bolstered by income generated from the Olympics.
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