Big deficit reported by GAA in 2020 financial results
GAA revenues took a big hit last year as the full force of the Covid-19 pandemic was felt.
The organisation yesterday reported a deficit of €34.1 million in its 2020 financial results, a figure that comprises a consolidated deficit at central level (Central Council and Croke Park) of €27.1m plus €7m at county and provincial level. It does not include any losses potentially incurred by clubs.
In total, the GAA's revenue was down by almost 60%, from €73.9m in 2019. That 2019 figure included €36 from gate receipts; last year, gate receipts accounted for just €3.6m. In terms of commercial income, the GAA earned €20m in 2019 but that fell to €8.7m last year.
Primary income last year came from direct government support of €18.5m, received through Sport Ireland. That represented an increase of €12.4m on 2019.
A total of €13m of the government support has been recorded in the 2020 accounts, with the balance to deferred against the November and December cost base. An additional €5.5m is made up of a direct grant of €2.8m for inter-county players, a coaching and games grant of €2.3m, and €400,000 from the Department of Foreign Affairs.
In his 2020 financial results report, GAA finance director Ger Mulryan wrote: “Despite the challenged financial position 2020 has presented and the hurdles we face again in 2021, our consolidated balance sheet at central level is strong and I am confident we will be fully capable of meeting the financial challenges presented head-on.
“Our auditors, PWC, have issued a clean audit opinion and as part of the audit, they have reviewed our going concern projections, cashflows and financial forecasts.
“While there are clouds overhead, it is with a confident note that I can assure our members that the association enters the coming year in reasonable financial health and with a positive outlook. Our collective financial strength, knowledge and expertise is due as always to the tireless dedication of our thousands of club and county treasurers nationwide. Their role is a difficult but extremely valued one.”
Mr. Mulryan said the GAA is also indebted to the members of the Financial Management Committee, the Audit & Risk Committee and the Insurance & Risk Committee for their ongoing commitment, hard work, insight and expertise.
He concluded: “It is with a special thanks to all my colleagues in Croke Park and the countless volunteers who continue to provide their dedication, hard work and expertise that I am pleased to report positively on a difficult set of Central Council’s 2020 financial results and aspire to reporting a more favourable position to you next year.”