Profits rise €100,000 at Rory McIlroy’s former agency

Accumulated profits at the sports agency business that hit the jackpot over its break-up with golfing superstar, Rory McIlroy increased by over €100,000 last year.

Thu, 28 May, 2015 - 01:00

Gordon Deegan

As a result of an out-of-court agreement last January in Dublin ending its relationship with McIlroy, Horizon Sports received a reported €21.8m from the golfer. Ahead of the court case, Horizon Sports Management Ltd deferred lodging its annual accounts last year.

However, it has now lodged filings for the 18-month period to the end of June last and the new figures show that the firm’s accumulated profits increased by €110,857, from €339,164 to €450,021.

Well-known Irish sports stars on its books today include golfer, Shane Lowry and Munster rugby captain, Peter O’Mahony.

During the 18-month period, the firm’s cash pile decreased by €27,436 from €506,882 to €479,446. This followed the cash pile at the firm more than doubling to €506,882 in the prior period.

The firm’s accumulated profits in the previous 2012 period increased by €63,947 from €275,217 to €339,164.

Ultimately, 2012 was the only full year the agency represented four-time major winner, McIlroy before the relationship went sour in 2013. During its time with McIlroy, Horizon — headed by Conor Ridge — negotiated the reported $20m per annum deal with Nike.

The abridged accounts, signed off on May 19, make no reference to the falling out with McIlroy or the out-of-court settlement.