The company behind Brighton Marathon is to be sold after it was reported it would be heading for administration.

Grounded Events, which has run the marathon for the past 12 years, has identified a preferred bidder.

Latest accounts, from April 2021, show the company is in about £1.2 million debt.

It is now looking to secure its future while it still owes money to creditors, including the prize money for previous winners.

In a statement, Grounded Events directors Tom Naylor and Tim Hutchings said: “Throughout this exceptionally challenging time for the industry and our event in particular, we have focused on finding a way to protect the future of Brighton Marathon Weekend.

“We believe that the process currently under way is the best approach to maintain the event’s positive legacy and to continue inspiring thousands of new runners, while contributing to our city’s economy and raising millions of pounds for charity. We would like to reiterate our thanks to our stakeholders, partners and the running community for their continued support and understanding.”

It was reported yesterday that the company had filed a notice of intention to appointment administrators on November 1. However, applications for the Brighton Marathon were still being taken until Monday this week.

Brighton and Hove City Council said it will meet the company for talks this week. It has previously stated that Grounded Events would not be allowed to run the Brighton Marathon in 2023 unless it had cleared its outstanding debts.

A spokesman for the council previously said: “We are committed to hosting a Brighton Marathon next year.

The Argus: Brighton Marathon runners in 2022Brighton Marathon runners in 2022 (Image: Simon Dack)

“But we have made it clear to Grounded Events that we will not provide full landlord's consent for the use of city space unless they fulfil the criteria we have set out for them.

“This includes the settling of all outstanding debts from previous years.”

Brighton Marathon is still reported to owe last year’s winner, Alix Ramsier, £2,000 in prize money.

Business advisory firm FRP said the aim was for the Brighton Marathon to be held in 2023 once the sale of Grounded Events has been secured. It would not reveal the name of the preferred bidder.