GAELIC GAMES:DESPITE THE notable loss of rental income arising from the end of soccer and just three rugby internationals hosted at Croke Park in 2010, stadium director Peter McKenna remained upbeat yesterday about generating future revenue streams.
For the first time in 10 years the stadium reported a decrease in profitability. The consolidated profit of €11.4 million is a decrease of €10.4 million or 47 per cent from 2009.
The stadium’s consolidated turnover in 2010 was €36.8 million, a decrease of €14 million or 27 per cent from 2009.
“Well, we had some rugby here in 2010 but obviously there will be none next year,” said McKenna. “I think we have to see it for what it was – it was a huge benefit when it came through. We knew we were only going to get it for a short period of time. I think, very intelligently, Coiste Bainisti decided to ring fence the expenditure and then earmark that for capital developments around the country. So the benefit of soccer and rugby will be across 32 counties forever.”
Each county received a €250,000 payout and there were a number of capital projects initiated as part of the ring fencing of revenue generated by renting Croke Park to international rugby and soccer from 2007 to 2010.
“Obviously the challenge for ourselves now is to see can we replace that income,” McKenna continued. “There’s no doubt that the disposal income is an issue and we’re very conscious of where will that be in six, seven months’ time but I’d be confident we’d get some innovative ideas together which we’ll be sharing with you over the next couple of months.”
The average attendance from 60 matches at the stadium dropped, from 46,484 in 2009 to 38,174; the fall off in Dublin fans during their qualifier games being an obvious contributor here; 1.5 million attended the stadium for all events while Take That are lined up to play two concerts this summer.
McKenna conceded there is little scope for non-GAA sporting events taking place in the short-term future as they would not consider bidding for major European soccer or rugby finals. “It would be antagonistic to our fellow sports people (the FAI and IRFU). That would be the wrong way to do business.”
The hosting of corporate events at the stadium has been hindered by the recession and the arrival of the Aviva Stadium and particularly the National Convention centre but McKenna argues the benefits from the latter opening. “They’re attracting far bigger conferences than we or any others would be able to hold so on the days in between, if there’s a three-day conference, people want to go out and entertain elsewhere so we’ve seen some benefit from that.
“The Convention Centre has boosted conference business in the city. The more that they establish a niche for themselves internationally then the market will see the benefit from that.”
