Croke Park transfers €15m to the GAA’s central council

THE Croke Park management company handed over €15 million to the Ard Chomhairle, the central council of the GAA last year, a €1.5m increase on 2007.

It also made a transfer to an asset replacement reserve of €3.2m for the future redevelopment of the stadium. The company reported a 41% increase in pre-tax profits to €5.1m for the year to the end of December 2008.

The accounts read: “The directors are pleased with the performance of the group and expect its activities to continue to reflect the healthy state of gaelic games, whilst also reflecting the underlying economic climate.”

The accounts filed for Páirc an Chrócaigh Teoranta and subsidiary companies show a turnover of €48.2m from €44.3m in 2007. The company took in €5.5m in the year from rent paid for matches. It made €10.7m from the use of its corporate facilities, slightly up on last year. It took in just over €16.2m from the hire of its facilities, up from €10.9m in 2007.

The income generated from advertising space, however, was down significantly on 2007, with the company taking in almost €292,000, down from €1.4m in 2007.

Pre-tax profits before the Ard Chomhairle contribution rose from €17.1m to €20.1m. Retained earnings were €1.7m, down from €3.4m in 2007.

Staff and security costs came to €1.7m, up from €1.6m in 2007.

Ground repairs and match day costs totalled to just over €5m while redevelopment related expenses amounted to €365,576.

The average number of employees working for the company at the end of the year was 30, with 19 of those employed in marketing and administration.