Thomond Park Stadium Company incurred losses

By Frank Quinn
According to a report in the business section of the Sunday Independent
by the Deputy Business editor John Burns. The company incurred losses of
€825,000 in the latest financial report . The report includes more than
€1.06M of non cash depreciation charges. Whatever they are!
Compared to a loss of €691,000 up to July 2024.
The revelations show that the long term debt facilities of €17M is to
the Munster Branch
The cash balance was €43,000, down from €58,000. The staff are employed
by the stadium at a cost of €395,000 And key management costs are down
slightly at €143,000 Net assets were €3.3M down from €4.17M
The license fee from Munster branch of the IRFU increased to €858,000 up
from €835,000
John Cantwell, the Stadium Director said one of the advantages was the
30,000 capacity where Robbie Williams is due next year. The advantages
are there since it was built and don’t appear to be utilised and are
not shown in the current figures, with such a huge debt on the company.
The naming rights have yet to be sold , which could reduce the debt .
Together with generating more revenue from staging games, Hospitality
and conferences, yet events are still being stages in Cork by the
Munster branch at GAA venues
Frank Quinn,
Irish Rugby Review, ,
PO Box 7993, Dunlaoghaire, Co. Dublin
086 2518118,quinfrk@gmail.com


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