Former Irish rugby manager’s firm in talks with NAMA

THE loss-making property development group, co-owned by former Irish rugby team manager, Pat Whelan, is in discussions with the National Asset Management Agency (NAMA) about preparing a business plan for the future support of the group.

The discussions are disclosed in accounts just filed by Steamboat Developments Ltd and subsidiaries to the Companies Office where pre-tax losses increased four fold to €5.6 million to the end of December 2008.

Steamboat Developments is co-owned by Mr Whelan and Pat Chesser and is the company that constructed the 16-storey Clarion Hotel in Limerick city overlooking the River Shannon.