Cycling/UCI: annual result of €20.5m driven by the Tokyo Olympic Games in 2021

The International Cycling Union posted an annual result of CHF21.3m (€20.5m) for 2021 (from 01/01 to 31/12/2021), a significant improvement on 2020 (-CHF1m/-€1m), announced the world body on 30/06/2022.

"In a context still marked by the Covid-19 pandemic, the UCI recorded financial results that were much better than expected, thanks to the health measures put in place that enabled the vast majority of competitions on the UCI International Calendar to take place in good conditions, to its prudent management and to the joint efforts of members of the Olympic family that enabled the Tokyo Olympics - a major source of revenue for International Federations - to take place in 2021," explained the organisation.

The body's turnover more than doubled from CHF30m (€27.7m) in 2020 to CHF61.4m (€59.2m) for 2021. Commercial revenues (€8.6m, +46.6%) and media rights (€7.7m, +12.2%) were up, while CHF22.3m (€21.5m) came directly from the Olympic Games.

"The UCI budgets on four-year Olympic cycles and has defined a maximum loss of CHF5.5m (€5.3m) per year, equivalent to the annual share of its…