McDowell profits soar to $13.2m

Accumulated profits at the commercial firm owned by golf Major winner, Graeme McDowell last year soared by $3.29m to $13.2m (€10.4m).

New figures filed by G-Mac’s Boyport Services Ltd show that the firm continued to flourish last year under the direction of the Dublin sports agency spurned by his close friend, Rory McIlroy.

The filings lodged with Companies House in the UK show that the Boyport’s cash pile reduced from $6.1m to $4.23m.

However, during 2013, the value of the firm’s financial assets more than tripled, increasing from $3m to $9.3m.

The firm’s accumulated profits jumped from $9.94m to $13.23m in the 12 months to the end of December last.

McDowell career has been steered by Conor Ridge’s Dublin-based Horizon Sports Management agency before McDowell recently announced that he wouldn’t be renewing the contract that runs to the end of the year.

Horizon is currently embroiled in High Court proceedings with McDowell’s friend, Rory McIlroy after the world’s number one golfer last year confirmed a split from the firm.

The figures show that the wealth of G-Mac’s firm increased dramatically under Horizon’s guidance.

The accumulated profits at the end of December 2010 stood at £1.53m leaping to £8.2m at the end of December last.

G-Mac has got married and become a father in the past year and operates The G-Mac Foundation whose mission is to support children’s medical research in Northern Ireland, the Republic and the US.