Cork County Board Granted Break On Loan Repayments To Croke Park

Wednesday, 31 May 2023 09:42

By Caoimhe Harney

With no concerts at the venue this year, the county board’s revenue stream is significantly weaker than in 2022

The GAA has granted the Cork County Board a 12-month repayment break on its Páirc Uí Chaoimh debt.

According to the Irish Examiner, in relation to its total stadium redevelopment overheads - which last September stood at over €30 million - Cork GAA will not have to make their annual €500,000 loan repayment to Croke Park this year.

A temporary moratorium on the sum owed to the GAA’s Central Council, which last September stood at €7,763,722, has been signed off by the association.

However, the interest of 1.9% will continue to accrue on the amount owed while the loan 'holiday' is subject to a six-month review. Contacted by the Irish Examiner last night, Cork GAA had no comment to make on the debt decision.

With no concerts at the venue this year, the county board’s revenue stream is significantly weaker than in 2022 when Ed Sheeran (twice), Elton John and Westlife played at Páirc Uí Chaoimh, along with hosting the sell-out Munster-South Africa rugby game last November.

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