/ GAA

Bumper GAA year clears Croke Park debt

Updated: Tuesday, 04 Feb 2014 14:42 | Comments

€285m stadium now debt-free
€285m stadium now debt-free

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The GAA have cleared all debt on Croke Park after announcing increased revenues for 2013.

Income was up €2m to €55m, largely as a result of an increase in attendances (up 11%) and gate receipts, which improved to €29m last year.

The two Clare v Cork All-Ireland finals and a standout season contributed to hurling generating more than Gaelic football for the first time.

2014 should see GAA revenues improve further, with four Garth Brooks concerts, three One Direction shows and a college American football game (UCF v Penn State) scheduled to take place in headquarters this year.

Croke Park stadium director Peter McKenna believes that it’s the first time in the Association’s 100-year ownership of the grounds that there has been no debt associated with it.

"I'm not sure if Croke Park was ever debt free," he told the Irish Daily Star, explaining that a number of existing loans on the €285m development had been consolidated and paid off.

"I think it always had debt associated with it. It's a very hard comparison because the building is so different to what it was prior to 15 or 20 years ago.

“But it's certainly a historic moment. It's huge."

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