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25/07/2021

Derry GAA release their financial report ahead of AGM

The county is 'debt free' after paying off Owenbeg loan

Derry GAA release their financial reports ahead of AGM

Derry GAA have released their financial statement for 2020 ahead of next Monday's AGM.

Following from a social media post, published in the week before the county's championship clash with Armagh, Derry have confirmed they are now debt free, after paying off a loan taken out in 2013 for the development of Owenbeg.

A statement of the accounts, sent to the County Derry Post, said the county have £6.2m in assets and a 'net surplus' of £200k.  The 'cash in hand' went from £28k in 2019 to almost £117k, the statement also outlines.

"Planning ahead, Derry GAA also secured an additional facility of up to £300k, if required, in line with our strategic plan," it continued. 

"At this time, and with current interest rates due to Covid-19, this made solid business sense. However, no part of this has been drawn down."

Derry's total income for the year dropped from £1.3m to £983k. Of the £234k of commercial income (down £20k from last year), the championship streaming service amounted to over £75k.

Gate receipts dropped from £220k in 2019 to £188k and National league shares dropped from £55k to £18k.

There was an increase in 'fundraising and donations' from £132k to £140k, while there was a decrease from £490k to £286k from income from 'associated bodies'.

In terms of expenditure, it dropped from £1.2m to £947k, including a drop in overall team expenditure to £340,294 which is down from £561,515 in 2019.

Players’ travelling and overnight expenses dropped to £49k from 2019's figure of £101k.  Teams' administration expenses was £135k, down from £209k in 2019.

Derry's AGM will take place on Monday night (7.30) at Owenbeg, with clubs - two delegates each - logging in remotely via a video-conferencing option.

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