Olympics and Paralympics hosts Paris is set to stage the fourth meeting of the season today, followed by Oslo and Lausanne on June 15 and June 30, respectively.

Four meetings have been planned for next month, starting with Stockholm on July 2, Silesia on July 16, Monaco on July 21 and London in July 23.

The funding is expected to help the meeting in London Stadium cover a "proportion of the projected deficit", with UK Athletics hoping more than 40,000 tickets will be sold for the meeting.

"We have a talented group of British athletes who we are looking forward to seeing competing on the Diamond League stage in London in just a few weeks’ time, Sally Munday, chief executive of UK Sport, said.

"This is a great opportunity for the British public to see world class athletics up close just a year out from the Paris Olympic Games.

"We want the UK to remain on the Diamond League calendar and for the event to become financially sustainable as quickly as possible.

"We are looking forward to working collaboratively with our colleagues at UK Athletics in the build up to the event and beyond to try to ensure this happens."

UK Athletics suffered an annual loss of £1.8 million ($2.2 million/€2 million) last year, with savings falling from £2.2 million ($2.7 million/€2.5 million) to £430,000 ($539,428/€501,215).  

The latest funding is expected to help future athletics events in the UK.

Earlier, an investment of £1.45 million ($1.8 million/€1.6 million) was made for the 2024 World Indoor Athletics Championships in Glasgow while £3 million ($3.7 million/€3.4 million) was dedicated for the 2026 European Athletics Championships in Birmingham.

"It’s great that UK Sport are supporting this Summer’s Diamond League at the Olympic stadium with the award announced today," UK Athletics chief executive Jack Buckner said.

"As well as continuing the support they have given to major athletics events over many years, it is recognition that it forms a key part of the athlete journey - hosting Diamond League athletics in the UK gives the GB and NI team the best possible build up and support towards major championship success.

"We’re grateful to UK Sport for this award and look forward to working with them around the long term sustainability of athletics events staged in the UK."