Business Irish

Saturday 23 August 2014

More irons in the fire – McIlroy's Boywood firm in €1.17m profit

Gordon Deegan

Published 13/06/2013 | 05:00

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Rory McIlroy has made shrewd business moves off the golf course
Rory McIlroy has made shrewd business moves off the golf course

HIS form on the golf course may have been mixed so far this year, but Rory McIlroy continues to make big hits when it comes to business.

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The current world No 2 golfer's UK-registered image and marketing rights company, Boywood Ltd, swung into pre-tax profits of £995,188 (€1.17m) last year, its second year of operation.

Boywood Ltd is 100pc owned by McIlroy and its principal activity "is to market and turn to profit the name, fame and image and marketing rights of sporting personalities".

The latest set of accounts lodged with Companies House in the UK underline the Northern Ireland man's huge sporting success.

Revenues from merchandising and appearance fees topped £1.28m in the 12 months to the end of December 2012. Profits were actually down 12pc compared with 2011, more or less in line with a 9pc drop in revenues.

The figures show the firm's revenues were made up of £1.05m in merchandising and £229,826 in appearance fees.

However, the filings only show a fraction of his full earnings potential, and, for example, do not take account of McIlroy's tour winnings from 2012.

Last year McIlroy became the youngest ever player to reach $10m in career earnings on the PGA tour.

Last August, McIlroy won his second major tournament when he won the US PGA at Kiawah Island.

Today, he's due to compete in his second major of 2013 at the US Open at Merion Golf Club.

In January, McIlroy signed a 10-year sponsorship deal – brokered by Dublin sport management firm Horizon – with Nike, worth a reported $250m.

Irish Independent

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