Coe, now the chairman of London 2012 and a vice-president of the International Association of Athletics Federations (IAAF), was reacting in the wake of news revealed by insidethegames earlier this week that Lamine Diack plans to stand for re-election again next year as President of the IAAF when he will be 78.

The decision by the former Senegalese Government Minister to stand after he declared publicly following his re-election at the IAAF Congress in 2007 that he would step down at the end of his four-year term having held the post since the death of Primo Nebiolo in 1999 came as Coe was considering a bid to replace him.
 
It was a contest that was also expected to feature International Olympic Committee members (IOC), the Ukraine's Sergey Bubka, the 1988 Olympic pole vault champion and world record holder, and Morocco's Nawal El Moutawakel, the 1984 Olympic 400m hurdles gold medallist.

Diack made his decision to put himself forward again amid reports that the IAAF is facing severe financial problems.

The sport's money problems are set to be top of the agenda when the ruling IAAF Council meets in Monte Carlo on May 28.

Coe said: "There are some very serious issues and challenges that will be on the agenda that day.

"Those challenges almost supersede almost any issues about an election

"We are a sport that is not engaging with young people in the way we know we have to.

"We are a sport that has some television challenges.

"We are a sport that has media challenges

"We are a sport that has marketing and structural issues to deal with."

Coe is refusing, publicly at least, to declare whether or not he will stand against Diack at the election which is due to take place next year in Daegu, South Korea, venue for the 2011 World Championships.

He told insidethegames: "I have really not thought about that.

"But the IAAF is an organisation that, we know, faces challenges, commercially, internally and externally."

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May 2010: Coe IAAF Presidental hopes hit by Diack decision to stand again
August 2009: Coe and Bubka Presidential hopes could be dashed by Diack