No Munster spending spree after E3m Toyota deal
However, the top official who admitted that captain Jim Williams is soon to sign a year long contract extension, vowed that Munster will strive to advance "from being in the top four in Europe to being number one."
Mr Fitzgerald said the multi-million euro agreement will primarily be utilised to improve spectator and player facilities at Thomond and Musgrave Park, along with funding the cost of Munster's ever increasing fixture list.
"People need to realise that increased funding is necessary because our playing programme is now much greater than was the case before.
"We used to have 12 or 13 competitive fixtures a season, but now we have a minimum of 29 and money is the key to funding that in terms of operational costs and promoting the game. Believe me, that money disappears fast," he said.
However he is adamant that the elusive Heineken Cup can be attained without stretching financial resources to breaking point.
"We have set ourselves high standards, but as things stand we have got to get better, from being in the top four in Europe to being number one.
"In terms of bringing players into the squad, we will not invest wildly.
"At the end of the day the ideal would be to have a fully home-grown team, but with such a small player base, we do need foreign players.
"But, we are competing in a market with other clubs in which we are under-funded and we cannot afford some of the sums being asked.
"On top of that, the world market in terms of availability of top players is tiny as well and there are certain positions where there is a worldwide void.
"These things have to be taken into consideration," he said.
The decision by Williams to remain with the province for another season is especially important in such circumstances. It is anticipated the 35-year-old Australian will extend his tenure with Munster within days after the branch chief executive confirmed that talks "were close to being concluded" and that an announcement may be made within weeks.
The three-year deal with Toyota, which is considered "a substantial increase" on Munster's previous sponsorship arrangement with Bank of Ireland was announced at Thomond Park, by Toyota Ireland chairman, Dr Tim Mahony.
Dr O'Mahony said Toyota was delighted to have the opportunity to be associated with a team which had become "an iconic brand" across Europe and he stressed that the deal would be as much a partnership as a commercial association.
"I am putting emphasis on the partnership aspect of this arrangement because I wish to stress that Toyota Ireland intends to be particularly active in promoting this association and we believe our efforts will help boost the Munster brand and rugby in general, as well as the Toyota name."
He revealed that while both sides have agreed on confidentiality in relation to the specific sums of money involved, Toyota estimated they would invest some E3m over the next three years in the actual sponsorship, bonus elements and in supporting the promotional activities.
Mr Fitzgerald saidadded that the branch was working hard to develop both Musgrave Park and Thomond Park and were looking at methods of generating funds, with acceptable repayment capacity, to allow them do so.
"There are opportunities to secure government funding, but these have to be put in perspective because Lansdowne Road is being redeveloped too and this was a primary focus of the IRFU.
"The future of Musgrave Park is still in the melting pot and we have had surveys done with regard to expanding Thomond Park. Of course we do not own Thomond Park, but we have to be pro-active in helping develop it.
"One of our main aims in increasing revenue and with eleven home Celtic League games, we will focus on those as prime targets for revenue generation," he said.
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