While AFN struggles, USATF reports record $44.5m revenue
While the Athletics Federation of Nigeria, AFN, struggles to secure funds for even its most basic needs and has not published financial accounts for years, USA Track and Field (USATF) has reported record audited revenue of $44.5 million for 2024, the highest in its history and nearly $8 million more than in 2023.
The record year continues a decade of steady growth and recovery from the COVID-19 pandemic. USATF’s biggest expense in 2024 was more than $10 million spent on the 2022 World Athletics Championships held in Eugene, Oregon, following $8 million in related costs in 2023.
The federation also increased spending on sports performance to $10.5 million and on elite athlete competitions to $15 million.
These investments helped the United States win 34 medals, including 14 golds, at the Paris 2024 Olympic Games. The success carried over to the 2025 World Athletics Championships in Tokyo, where Team USA won 16 gold medals, a championship record.
USATF Chief Executive Officer Max Siegel said the organization is focused on preparing athletes for the Los Angeles 2028 Olympics, ensuring they have the funding and resources to remain world leaders.
Although expenses exceeded revenue in 2024, the deficit was reduced by $4.5 million compared to 2023.
USATF credited sponsorships, membership fees, event revenue, and a doubling of merchandise sales for the improvement. The federation said it expects to post a surplus in 2025.
In contrast, the AFN is looking up to the Federal Government represented by the National Sports Commission to run its secretariat and competitions. Sponsorship fees are either borrowed despite budgetary provisions or diverted in terms of paying for unauthorized loans.
