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GAA may borrow millions to develop infrastructure

THE GAA could be set to take out multi-million euro loans to help regenerate county board's expenditure on capital projects.

Speaking at yesterday's Ulster Bank Sigerson Cup launch in NUI Maynooth, Leinster Council chairman, Seamus Howlin, revealed that at a recent management meeting it was suggested that the GAA could ask banks for loans for infrastructure development, with the amount likely to run into tens of millions.



CONFIDENT

"These are tough economic times but we in the GAA are very focused and confident about what we want to do," said Wexford native, Howlin.

"There are things that we have planned to do and we have spoken about borrowing.

"We are an ambitious and focused organisation."

Howlin explained that the end of lottery funding and the ring fencing of revenues from the use of Croke Park by the FAI and IRFU for other projects would prompt the GAA to look for monies from elsewhere.

"The lottery funding is finished for now and that has put pressure on counties that want to have training centres," he said.

"So we are belting away with our plans and, as far as we are concerned, we have things well thought out," added Howlin.

"We have committed to spending our soccer and rugby money over the last number of years.

"That is ring-fenced for development work anyway so if we have to top that up with more money to do other things then we are prepared to do it," said the Wexford native.


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