Croker yields over €17m to GAA

THE Croke Park management company handed over €17 million to the Ard Chomhairle last year, the central council of the GAA, a €1.5m increase on 2008.

It also made a transfer to an asset replacement reserve of €3.2m for the future redevelopment of the stadium.

According to accounts just filed for Páirc an Chrócaigh Teoranta and subsidiary companies, the company made a profit of €21.5m before the payment to the Ard Chomhairle, up from €20.1m in the previous year.

However, it saw pre-tax profits fall from €5.1m to €4.5m in the year to the end of December 2009.

Turnover in the year increased slightly from €48.2m to €50.7m, while gross profits were up from €39m to €41m.

The company took in €5.5m in the year from rent paid for matches. It made €10.2m from the use of its corporate facilities, slightly down on last year. It took in just over €18.7m from the hire of its facilities, up from €16.2m in 2008.

The income generated from advertising space was down slightly on 2008, with the company taking in almost €255,108.

Staff and security costs came to €1.7m, up slightly on 2008. Ground repairs and match day costs totalled just over €5m, while redevelopment related expenses amounted to €343,176.

The average number of employees working for the company at the end of the year was 31, with 20 of those employed in marketing and administration.

The total stadium redevelopment fund stood at €37.8m at the end of 2009, down from €47.4m at the end of 2008.

According to the accounts the principal activity of the group consists of the administration, management and redevelopment of Croke Park Stadium.

Retained earnings for the year came to just over €1m, down from €1.7m in the previous year.

The company paid out €691,775 on rent and rates in 2009, up from €617,712. Expenditure on heat, light and power came to €808,426 down from €837,275 the previous year.

Loans totalling €7,099,569 were owed to Ard Chomhairle at the year end. It also said that grants for the redevelopment of Croke Park amounting to €23,430,882 are repayable under certain circumstances at the discretion of Ard Chomhairle.