Hastings Insurance MacHale Park loan repayments extended
MAYO GAA County Board confirmed at last week’s meeting that the loan repayments to Croke Park on the loan extension for Hastings Insurance MacHale Park will take 34 years to pay off.
The question was asked at last month’s meeting of the Mayo board, where it was stated that Mayo will be paying €25,000 per month for the next 10 years to Croke Park and their payment arrangement would then be reviewed by the National Finance Committee at Croke Park.
It is understood that just under €8 million of debt remains on Hastings Insurance MacHale Park resulting from the redevelopments of the grounds in 2008.
The repayments were revised during the Covid-19 pandemic, with Croke Park reducing the repayments substantially.
However, a reprieve on payments for a period and reduced repayments has meant that the loan period has now been extended, with county chairman Seamus Tuohy confirming at last week's meeting that it will now take 34 years for the loan to be repaid.