A potential buyer has been found for the company behind the Brighton Marathon in a bid to save the annual running race.

More than 12,000 runners have taken part in the race, which has taken place each April since 2010 apart from 2020, when it was cancelled because of the pandemic.

Grounded Events owed £1.2 million for the 2021 financial year, according to the most recent filing with Companies House.

Last year’s winners of the race held in the East Sussex city have not been paid their prize money, it has also been reported.

We are now focused on getting a deal over the line that will secure the future of the business and the much-loved Brighton Marathon Weekend. We will provide an update as soon as we can

Specialist consultancy FRP is helping the board of directors at Grounded Events sell the company after it issued a notice of intention to appoint administrators on November 1.

An FRP spokesman said the aim is to secure a sale so the marathon happens in 2023.

Director Phil Harris said: “We are now focused on getting a deal over the line that will secure the future of the business and the much-loved Brighton Marathon Weekend. We will provide an update as soon as we can.”

In a statement, Tom Naylor and Tim Hutchings, directors of Grounded Events, 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 underway 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 are committed to hosting a Brighton Marathon next year. 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

“We would like to reiterate our thanks to our stakeholders, partners and the running community for their continued support and understanding.”

A Brighton and Hove City Council spokesman said: “We are committed to hosting a Brighton Marathon next year.

“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.

“We are aware that they now stated their intention to appoint administrators as a protective measure.

“We are meeting them later this week to understand the implications of this in terms of their request to run the Brighton Marathon next year.”