Cork dig into cash reserves to channel toward Páirc Uí Chaoimh redevelopment

Cork GAA accounts show it has spent over €5m of its own cash reserves this year on the redevelopment of Páirc Uí Chaoimh.

Net assets fell from €7.5m to €2.4m in 2016, and the board will have to spend the same again in 2017 to meet its obligation towards the €80m stadium project.

The key to whether Cork GAA reopens the stadium next July debt-free or with a significant financial noose around its neck is the sale of 2,200 10-year tickets at €6,500 each, plus the sale of corporate naming rights to the stadium.