British Cycling Braces For £4m Lost Revenue As UK Riding Changes

Governing body lays off a third of its staff and its senior management takes a pay cut, reports Alex Ballinger

- Alex Ballinger

In a sign of just how badly the world of British cycling has been hit by the coronavirus pandemic, the national governing body announced last week that it expects to lose £4m in revenue during the lockdown.

British Cycling also said it has been forced to furlough a third of its workforce and cut wages to reduce the financial impact of the global pandemic.

BC has suspended all events and sanctioned activities to help slow the spread of coronavirus, which has resulted in the loss of entry fees and other sources of income.

In the year to 31 March 2019, its most recent set of accounts, it reported revenue of £32.7m and employed 276 people each month on average.