• UKA chief executive says cost would be too high
• Focus is on bid to host World Championships

UK Athletics has rejected the chance to be involved in Michael Johnson’s $30m (£23.5m) new Grand Slam Track competition because it fears it is too much of a financial risk. Birmingham’s Alexander Stadium and the London Stadium were rumoured to be among candidates to host one of the four events, which launches in Jamaica in April 2025. Los Angeles will be involved along with Miami, with the final venue to be announced this week.

Many elite athletes, including the four-times US Olympic gold medallist Sydney McLaughlin-Levrone and Britain’s Olympic 1500m silver medallist Josh Kerr have signed up for the series, which is modelled on the four tennis grand slams and has a prize fund of $12.6m.