By Gordon Deegan
Donegal singer Daniel O’Donnell gave his former business partner of more than 30 years, Mick Clerkin, €796,000 for his share in the business, new accounts show.
Accounts filed by O’Donnell’s Brockwell Ltd show that Mr O'Donnell paid Clerkin €796,000 for his 50% share of the business in December 2016.
Clerkin is credited with launching O’Donnell’s music career when the Cavan-born record boss spotted O’Donnell playing at the London Music Festival in 1985 and gave him his first record deal, signing him up to his own label, Ritz Records.
Clerkin resigned as a director of Brockwell he co-owned with O’Donnell in 2016.
The only other director of Brockwell Limited by Daniel’s wife, Majella who became a director on the date that Clerkin resigned in December 2016.
The accounts show that the transaction with Clerkin hit the entertainment company’s balance sheet with accumulated profits plunging from €799,751 to €7,703 and the company’s cash pile reducing sharply from €562,726 to €63,858.
Daniel O’Donnell and Clerkin established Brockwell Limited in 2016 and O’Donnell has since become a household name across Ireland and the UK, selling millions of records.
During the successful partnership between the two, O’Donnell recorded sales of more than 30 albums with millions of sales worldwide.
The low profile Clerkin scooped the Industry award at the inaugural RTE Irish Country Music Awards in 2016.
Separate accounts filed by O’Donnell DOD Promotions Ltd show that the firm was sitting on accumulated profits of €2.73m at the end of 2016.
Mr O'Donnell has upcoming gigs at the INEC in Killarney next month and an extensive tour of the UK in October.
Daniel and Majella have been a big ratings hit on our TV screens this year with their appearance on Dermot Bannon’s Room to Improve totalling 722,000 and their own ‘Daniel & Majella’s B&B Road Trip’ recording high audience figures.