Diamond League AG has borrowed $2 million from World Athletics ©Getty Images

World Athletics has quietly entered into an agreement to lend $2 million (£1.75 million/€2 million) to Diamond League AG.

The agreement is disclosed in the small print of the recently-published World Athletics 2021 financial report.

While the reason for the loan is not disclosed, the schedule of payments is.

The loan is payable in two instalments as of end-March 2023 and 2024; it is to be fully reimbursed to World Athletics by end-June 2025.

No mention of any interest payments is made.

The Diamond League is an annual series of elite competitions whose inaugural season was in 2010.

The Diamond League season concluded earlier this month ©Getty Images
The Diamond League season concluded earlier this month ©Getty Images

A total of 12 Diamond League events were held in 2021, culminating with a two-day final in Zurich.

The new accounts also confirmed that a $7.5 million (£6.6 million/€7.5 million) loan received from the International Olympic Committee to take care of cash flow concerns arising from postponement of Tokyo 2020 has been reimbursed.

Receipt of athletics' delayed Tokyo 2020 Olympic dividend played a big part in propelling World Athletics to an annual profit for 2021 of $29.8 million (£26.1 million/€29.8 million).

Year-end cash rose from $40 million (£35 million/€40 million) to $53.6 million (£47 million/€53.5 million).