Monday 16 December 2019

Record income of €6.1m helps Kerry to a profit despite €1.4m spend on teams

Kerry reported record income of €6.14 million, up from €3.5m in 2018 (stock photo)
Kerry reported record income of €6.14 million, up from €3.5m in 2018 (stock photo)
Donnchadh Boyle

Donnchadh Boyle

At a time when money matters are dominating the agenda for all the wrong reasons in the GAA, Kerry posted strong financial results that saw them record an operating profit of €143,000 this year.

That figure is in line with 2018 accounts and comes despite a significant jump in the cost of preparing teams with the Kingdom spending almost €1.4m on its teams in 2019, up from €1,031,700 the previous year.

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Much of that jump can be put down to Kerry's participation in two All-Ireland finals this year while in 2018 they didn't get past the Super 8s.

"Team expenses will always be a challenge to the board," Treasurer Tom Keane writes in his report.

"However, while there were significant cost increases in the senior footballers which cannot be ignored; it is as a direct result of the success of our senior footballers on the field of play. This increase must be associated with eight weeks additional training due to the longer season with the three national finals reached.

"The figures must be assessed as including transport, hotel accommodation, food and medical support for three national finals in Dublin.

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"The aim of the Board is to invest in our players with the provision of dietary programmes, wellbeing programmes and medical support in order to provide a solid foundation to support our management and teams as we strive for success on the field of play."

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Kerry also reported record income of €6.14 million, up from €3.5m in 2018. Of that increase, €1.7m came from an increase in ticket income which is a pass through arrangement with Croke Park. All other income sources recorded a jump of €0.9m.

Gate receipts for club competitions are up by €58,000 while in its first full year in operation, the Currans Centre of Excellence generated €41,000 though there are plans to try and grow that figure. Projections expect the upkeep cost of the facility to come in at €150,000 per year.

Accounts also revealed that the Kerry team holiday, which will see the team head to Thailand just after Christmas, will cost €300,000 with €265,000 of that already raised.

Bank debt at the end of October was €2.78m down from €3.14m in 2018. Currans accounts for around €2m of that figure with Fitzgerald Stadium in Killarney making up the remainder. Kerry operate a sinking fund where €100,000 is being put aside each year for ten years.

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