GAA defends €1m deal

SENIOR GAA figures in Munster last night defended a €1m investment deal which cost the provincial council almost €250,000 last year.

Sources confirmed that around €1m was ploughed into two separate cash investments in 2000, but rejected claims that the money could have been put to better use at grassroots level.

It is understood that then treasurer, Brendan Moylan of Tipperary presented “attractive” proposals to Council officers at a time three years ago when cash reserves were “healthy”. Two investments were involved, one in shares. The investment made a small €14,000 loss in 2001, but took a serious hit last year, losing over €244,000.