CGU Insurance has announced a sponsorship deal to back British athletics to the tune of £10m over the next four years.
The deal will see CGU become the main sponsor for all major indoor and outdoor meetings in the UK, starting with the CGU Gateshead Classic on June 27 and continuing with the CGU British Grand Prix in August.
The events will have the highest prize structure for any athletics competition held in Britain thanks to the deal.
The sponsorship will secure the sport's financial future in the build up to the Sydney Olympics and into the new millennium.
It will also support the sports development at grassroots level. A minimum of 20 per cent of the money will be used encourage children to participate in the sport through events such as CGU Startrack, a 'come and try' scheme run in the schools' summer holidays.