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Tuesday 23 September 2014

O'Driscoll converts his success on the field into a €3.5m business

Gordon Deegan

Published 02/08/2014 | 02:30

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Brian O'Driscoll

Accumulated profits at the main firm owned by rugby icon Brian O'Driscoll jumped by €339,705 last year to €3.526m, new accounts show.

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Separate accounts also just filed show that O'Driscoll's former Ireland teammate Johnny Sexton reaped the benefits of his money-spinning move to Paris, recording a doubling in profits to more than €430,000.

O'Driscoll may have walked away from a lucrative playing career with Ireland and Leinster this year with his emotional retirement from rugby but he can console himself with building a large cash pile over his glittering career as he faces into his non-playing days.

Along with the sharp rise in profits, the cash pile at his firm stood at €1.3m at the end of August 30 last.

The new accounts just filed with the Companies Office by his firm ODM & Promotions Ltd show that the cash pile increased by €177,031, going from €1.195m to €1.372m.

During the same period, O'Driscoll's accumulated profits increased from €3.196m to €3.526m.

The figures show that the value of the firm's investment reduced from €2m to €1.6m and the reduction in value may be explained by O'Driscoll cashing in on the investments during the year.

The only other director is O'Driscoll's father Frank, who has helped guide his son's career off the pitch to great effect.

O'Driscoll, then aged 22, established the firm in 2001 as part of his bid to capitalise on being the most marketable Irish player of the modern rugby era.

Now aged 35, O'Driscoll is about to embark on separate media projects where he will be a contributor to Newstalk and with BT Sport in the UK.

O'Driscoll's former teammate Sexton (29) is at the earning peak of his playing career and accounts lodged with the Companies Office show that his firm's profits jumped by more than €250,000 from €225,519 to €476,099 last year.

A relative latecomer to the international scene, Sexton is making up for lost time in the earning stakes with the hike in profits coinciding with Sexton signing a contract with Racing Metro in Paris last year on a reported contract of €750,000 per annum.

The jump in profits at JAS Management & Promotions Ltd last year compares to an increase of €94,490 in 2012.

The figures for Sexton's firm show that its cash pile increased four-fold from €81,762 to €334,342. The money owed to the firm by debtors also increased sharply going from €83,025 to €138,000.

Irish Independent

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