GAA will borrow to continue with various projects

THE GAA is prepared to borrow millions of euro in order to continue with various infrastructure projects nationwide if the recession continues and other sources of funding remain unavailable.

The decision was made at a recent meeting of the Management Committee in light of the suspended Sports Capital Programme and the soon-to-be discontinued renting of Croke Park by the IRFU and FAI.

The cost of using the 82,000 capacity stadium is in the region of €1.35m and 26 internationals will have been played at the GAA HQ by the time the Aviva Stadium opens. That amounts to just over €35m in rent since 2007 while GAA Director General Páraic Duffy said last month that the Sports Capital Programme, sourced from lottery income, had been worth €30m to the organisation in a good year.