Sligo seeking bail-out as debts hit €1.5m
Sligo are the latest county to seek a financial bail-out to deal with their day-to-day affairs as their debts amount to €1.5m.
A Sligo County Board meeting last night was due to hear of a request for an estimated €250,000 to Croke Park to help alleviate their immediate problems. Croke Park has been concerned about the financial troubles that Sligo County Board has found itself in over the last number of years.
The GAA's director of finance Tom Ryan met with Sligo officials in advance of last night's meeting.
A three-man monitoring committee has been put in place to oversee the crisis. Lauri Quinn, chairman of the GAA's finance committee, has been joined by Connacht Council secretary John Prenty and Gerry McGovern, another member of the GAA's finance committee and Connacht Council member.
The new committee was understood to have met last night and their aim will be to implement tight budgets for the county over a five-year period.
Work has also ground to a halt on the €3.2m Sligo GAA Centre of Excellence at Scarden.
Kildare were in receipt of an initial €300,000 from Croke Park in early 2012, and got another €350,000-plus as a term loan last year, which they will pay back over time.
No money has so far been transferred to Sligo from Croke Park and it may not happen until after the forthcoming convention.
The problem in Sligo has been a dearth of fundraising and Croke Park are keen to see some movement on this issue before committing any funds.
Kildare and Sligo may not be alone for long in seeking funds from Croke Park to maintain day-to-day operations as a number of other counties are in similar financial peril.