Business Irish

Sunday 17 December 2017

Profits at Simms' sports firm boosted by lightning Bolt

Profits at the firm operated by Irish sports agent Ricky Simms raced ahead quicker than 'Bolt-lightning' last year.

Co Donegal's own Jerry Maguire has been the agent and confidante of the fastest man on the planet, Usain Bolt, for over a decade now.

Now, new accounts show the Jamaican's double Olympic glory in London last summer contributed to Simms' Pace Sports Management Ltd recording a profit of £152,222 (€176,311) in the 12 months to the end of December last.

The figures returned to Companies House in the UK show that the firm's accumulated profits rose from £321,773 to £473,906.

The Middlesex-based firm's cash pile during the year increased from £584,905 to £669,829.

The 2012 performance by the sports management firm follows an impressive performance in 2011.

In that year, accumulated profits increased by £173,917 from £146,707 to £320,624, with the firm's cash pile increasing from £201,672 to £584,905.

A native of Milford, Co Donegal, Mr Simms is the majority shareholder in the firm with 55pc of the shares, and sits on the board with athlete agent Marion Steininger and accountant Duncan Gaskell, who both own the remaining shares.

Mr Simms' firm also represents one of the other big stars from the 2012 Olympics in London – double gold medal winner Mo Farah.

Mr Simms helped Bolt earn an estimated $20m in 2012 through appearance fees, sponsorship deals, prizemoney and bonuses.

Gordon Deegan

Irish Independent

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