Quinn set to lose €2.5m on ill-fated property venture

Former Ireland soccer international, Niall Quinn is set for a loss of around €2.5m on his ill-fated Co Carlow property venture.

Quinn confirmed yesterday an offer has been made for the ‘ghost’ 15 one-and-two bedroomed apartment block and adjoining pub built by his firm, Manorfield Taverns Ltd, in Bagenalstown.

However, the former Sunderland chairman is on the hook for a 50% or €2m share of the €4.1m personal guarantee provided to AIB on loans taken out by the firm to develop the apartment block.