The Times reports that Nike and UK Athletics are close to extending their sponsorship deal for another ten years. The agreement, which currently runs until 2030, would therefore expire in 2040. The new agreement reportedly involves an up-front payment of future earnings from Nike to UK Athletics. The cash injection would help resolve the financial crisis at the sport governing body, attributed to expiring sponsorship deals and suspended sporting events due to the ongoing Covid-19 pandemic. In its latest financial statements, UK Athletics reported a loss of £1.8 million (€2.0 million) for the year that ended March 31, 2022.