GAA chiefs confident Cork can cover stadium debt

Croke Park hierarchy and the Munster Council remain confident Cork GAA will be able to cover the €23m debt resulting from the redevelopment of Páirc Uí Chaoimh, writes Eoghan Cormican.

Munster Council chairman Jerry O’Sullivan and a GAA spokesman yesterday expressed full faith in the Cork executive to raise the necessary finances to pay off the €86.4m stadium bill. O’Sullivan said it is “crystal clear that the board have their work done” in identifying how they will clear the remaining debt.

Cork GAA received €53.75m in funding for the regeneration of their flagship venue, with the Government forwarding €30m (€7.5m of which has still to be handed over), €20m from GAA coffers and €3.75m from Munster Council. Add in the €10m which Cork themselves had stashed away in recent years and that left a €23m shortfall, necessitating an additional €19m loan taken out in conjunction with Croke Park to complete the project.