The women are now getting the same grant of €1,200 as the men, taken from what was originally the Olympian fund.
Positive in terms of equality but reopens the old Jerry Kiernan argument and the 'why are the taxpayers paying them at all' discussion.
Personality I cannot see any legitimate reason as to why the taxpayer is paying any sports people and can't see any justification for not extending it to all sports.
https://www.irishtimes.com/sport/gaelic-games/government-to-treble-grants-for-women-intercounty-gaa-players-to-1-200-1.4560392
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Because if the state pay a player its a grant. If the GAA do its a wage. One is classed as amateur, the other isn't
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
Quote from: clonadmad on May 12, 2021, 11:59:33 AM
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
Compared to other sports denied access to this grant they are
Quote from: clonadmad on May 12, 2021, 11:59:33 AM
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
How much do they have at present?
Quote from: JoG2 on May 12, 2021, 02:02:46 PM
Quote from: clonadmad on May 12, 2021, 11:59:33 AM
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
How much do they have at present?
€53m in their liquid cash assets in their last published accounts and €110m reserves.
this is just another example of people wanting to Punish the GAA for Keeping control of their spending . yes the GAA is a cash rich organisation as it hold reserves for major projects such as Pairc i choimh other major Improvement and to Give grants to Hundreds of clubs each Year.
If you follow the logic of giving money aimed for sport tp soup kitchens ten we would have no sport no Arts Music or movies and countless other things .
Infact are soup kitchens the most worthy , a prize for naming the best one...
Quote from: rosnarun on May 12, 2021, 04:42:29 PM
this is just another example of people wanting to Punish the GAA for Keeping control of their spending . yes the GAA is a cash rich organisation as it hold reserves for major projects such as Pairc i choimh other major Improvement and to Give grants to Hundreds of clubs each Year.
If you follow the logic of giving money aimed for sport tp soup kitchens ten we would have no sport no Arts Music or movies and countless other things .
Infact are soup kitchens the most worthy , a prize for naming the best one...
What are you talking about?
Quote from: Angelo on May 12, 2021, 03:52:34 PM
Quote from: JoG2 on May 12, 2021, 02:02:46 PM
Quote from: clonadmad on May 12, 2021, 11:59:33 AM
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
How much do they have at present?
€53m in their liquid cash assets in their last published accounts and €110m reserves.
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
Quote from: Louther on May 12, 2021, 11:38:53 PM
Quote from: Angelo on May 12, 2021, 03:52:34 PM
Quote from: JoG2 on May 12, 2021, 02:02:46 PM
Quote from: clonadmad on May 12, 2021, 11:59:33 AM
Quote from: Angelo on May 12, 2021, 10:12:12 AM
Quote from: Baile Brigín 2 on May 11, 2021, 12:49:56 PM
Quote from: Louther on May 11, 2021, 12:38:37 PM
If one sport gets it, should all sports not? The previous argument, made by GPA during the good times, was the money that was spent following and in the men's GAA. I was always doubtful of this as it was money in circulation in the economy rather than creation of wealth such as overseas spending coming to Ireland. But it did stimulate spending and circulation, so the argument could be made.
Can the Ladies came make the same argument? Say compared to athletics which sees lots of spending in terms of people moving round country for various athletics events, such as cross country, marathons, half marathons, track events etc. Only the Olympic standard get funding. Basketball another sport in cold.
I'd be fan of the ladies game and great to see it getting recognition but it really needs to focus on getting this exposure into people through turn styles and creating its own funding streams. Bar the all Ireland day, crowds have been historically very poor. They need this money to come onboard to create their own infrastructure or come in under the wider GAA umbrella altogether.
They will welcome this money for players. Many others who pursue their own games and hobbies to same level will once again feel out in cold.
The media seem to be hitting this point. They launched it under 'equality' but ended up causing a more unequal situation. The lad in the Examiner pointed out Chambers has created a precedent and there will be a queue outside his office for parity funding.
Personally if there is €5.4m available per year to thank people for their voluntary contribution to civic life I would much rather €1,200 went to those who run soup kitchens, wotk with the homeless and whatnot
It's a fair point.
The GAA is a cash rich organisation so they should fund this rather than the govt. I can see why govt would fund grants for community facilities like pitches and club houses which can have a positive impact for the local communities but I don't see why the govt should be footing the bill for county players when the GAA generate such massive resources each year.
Cash Rich?
Really?
What have they in Cash currently at the minute?
More ill informed nonsense out of you
How much do they have at present?
€53m in their liquid cash assets in their last published accounts and €110m reserves.
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
53m in cash in a bank.
Net Assets of €110m.
How on God's earth is that not a cash rich organisation?
You're failure to read and understand what is presented to you is a combination of ignorance and stupidity.
For a start your headline figures are the consolation accounts of Central Council, Croke park stadium (the major asset) and other ventures.
Central council have bled money in 2020 and their reserves are actually a deficit of €8m. From a surplus of €7m in previous year. To spell that out for you - they owe €8m out the door than they have sitting in the house. The year before they had €7m sitting in the house. That's gone. Their cash flow has and continues to take a battering.
Those accounts form part of the consolidation. Croke Park is and remains the get out of jail card. It's relatively debt free for what it's worth.
Yes, they have €53m in the bank. When their current liabilities are take into account and what they owe for day to day stuff over the next 12 months, they have a surplus of €35m - this sees the 53 reduced straight away to 35. Still with me?
Then they have commitments to debt and out going's already on the books of another €75m. So straight away the surplus of cash is wiped out going forward unless it is replenished and topped up. Outcome for that isn't good in next 12 months.
So where does this reserve figure if €110m come from. Basically the value of Croke Park, Abbotstown, farm in St Margaret's and their other assets, not liquid assets but capital items, are valued at €141m. That's what they consider them to worth if sold in the morning - not going to happen.
The reserves are what's left of that €141m when all their other assets and liabilities are paid up. So they don't have €110m sitting about or even the €53m sitting in cash ready to be spent. It's going to get worse and need Government money once again to keep the show on the road.
They GAA always operated on keeping small surplus year on year and spend rest through games and capital investment. The major source of funds ie people through the gates and using the likes of Croke park will be gone for best part of 18 months and counting.
It will take years. They are in a similar position to the FAI in terms of central council funds but the major difference, thankfully, is years of prudent financial mgt where they have major assets paid for that generated funds. FAI have a share in a major asset that they haven't paid for and isn't generating funds and they borrowed from the future to keep it going.
Quote from: Louther on May 13, 2021, 10:52:23 AM
You're failure to read and understand what is presented to you is a combination of ignorance and stupidity.
For a start your headline figures are the consolation accounts of Central Council, Croke park stadium (the major asset) and other ventures.
Central council have bled money in 2020 and their reserves are actually a deficit of €8m. From a surplus of €7m in previous year. To spell that out for you - they owe €8m out the door than they have sitting in the house. The year before they had €7m sitting in the house. That's gone. Their cash flow has and continues to take a battering.
Those accounts form part of the consolidation. Croke Park is and remains the get out of jail card. It's relatively debt free for what it's worth.
Yes, they have €53m in the bank. When their current liabilities are take into account and what they owe for day to day stuff over the next 12 months, they have a surplus of €35m - this sees the 53 reduced straight away to 35. Still with me?
Then they have commitments to debt and out going's already on the books of another €75m. So straight away the surplus of cash is wiped out going forward unless it is replenished and topped up. Outcome for that isn't good in next 12 months.
So where does this reserve figure if €110m come from. Basically the value of Croke Park, Abbotstown, farm in St Margaret's and their other assets, not liquid assets but capital items, are valued at €141m. That's what they consider them to worth if sold in the morning - not going to happen.
The reserves are what's left of that €141m when all their other assets and liabilities are paid up. So they don't have €110m sitting about or even the €53m sitting in cash ready to be spent. It's going to get worse and need Government money once again to keep the show on the road.
They GAA always operated on keeping small surplus year on year and spend rest through games and capital investment. The major source of funds ie people through the gates and using the likes of Croke park will be gone for best part of 18 months and counting.
It will take years. They are in a similar position to the FAI in terms of central council funds but the major difference, thankfully, is years of prudent financial mgt where they have major assets paid for that generated funds. FAI have a share in a major asset that they haven't paid for and isn't generating funds and they borrowed from the future to keep it going.
You clearly are about as useful with figures as you are with words.
53m in cash reserves at the close of the year means they are a cash rich organisation.
If they had a bank overdraft or very low cash reserves it would mean they are not a cash rich organisation.
I think you should maybe go and educate yourself a little better in future.
Comical ;D ;D ;D ;D
You can have 100bn on cash at the end of year but if you owe 110bn and your main income stream is cut, it means very little and your future is not going to be smooth.
Very simple fact when looking at Financials - you can't look at 1 figure in isolation. A 1st business student could tell you that.
Quote from: Louther on May 13, 2021, 11:12:11 AM
Comical ;D ;D ;D ;D
You can have 100bn on cash at the end of year but if you owe 110bn and your main income stream is cut, it means very little and your future is not going to be smooth.
Very simple fact when looking at Financials - you can't look at 1 figure in isolation. A 1st business student could tell you that.
If you have 100bn of cash at the end of the year and payables of 10bn cash due by the end of next year.
You are still cash rich.
You are incredibly stupid.
They have 53m in the bank and net assets of 100m. They are cash rich and only a stupid person would contend otherwise.
You are so wrong it's funny. I'd love to see you sitting behind a desk if I came looking for a loan.
If you making an argument on reserves of €110m when this includes €140m of land, bricks and mortor then god help you.
Quote from: Louther on May 13, 2021, 12:17:28 PM
You are so wrong it's funny. I'd love to see you sitting behind a desk if I came looking for a loan.
If you making an argument on reserves of €110m when this includes €140m of land, bricks and mortor then god help you.
Listen, dullard.
You are the guy saying that an organisation with 53m cash, sitting in a bank is not cash risk.
That is as idiotic as it gets.
I'm making an argument on reserves as it shows the net position of the organisation. An organisation that has 110m more assets than its liabilities, 53m of which is cash, in a bank account that can be put to use at a seconds notice.
This is all obvious and it's incredible that you actually can't see how stupid your argument. And it's frankly flabbergasting the arrogance you must have to truly believe you are right here when any accountant or financial expert would laugh their hole off at you about the stupidity of your statement.
Meanwhile your contention is that a organisation with net assets of 110m, with cash in a bank of 53m should not foot this bill but the govt should.
The govt who have a national debt of 250bn, a housing crisis crying out for capital investment, a health crisis crying out for investment in the public system via way of medical staff and facilities.
It's clear you haven't a notion what you're talking about but continue to show yourself for a guy who has zero common sense and a massive ego to top it off.
Quote from: Angelo on May 13, 2021, 01:53:33 PM
Quote from: Louther on May 13, 2021, 12:17:28 PM
You are so wrong it's funny. I'd love to see you sitting behind a desk if I came looking for a loan.
If you making an argument on reserves of €110m when this includes €140m of land, bricks and mortor then god help you.
Listen, dullard.
You are the guy saying that an organisation with 53m cash, sitting in a bank is not cash risk.
That is as idiotic as it gets.
I'm making an argument on reserves as it shows the net position of the organisation. An organisation that has 110m more assets than its liabilities, 53m of which is cash, in a bank account that can be put to use at a seconds notice.
This is all obvious and it's incredible that you actually can't see how stupid your argument. And it's frankly flabbergasting the arrogance you must have to truly believe you are right here when any accountant or financial expert would laugh their hole off at you about the stupidity of your statement.
Meanwhile your contention is that a organisation with net assets of 110m, with cash in a bank of 53m should not foot this bill but the govt should.
The govt who have a national debt of 250bn, a housing crisis crying out for capital investment, a health crisis crying out for investment in the public system via way of medical staff and facilities.
It's clear you haven't a notion what you're talking about but continue to show yourself for a guy who has zero common sense and a massive ego to top it off.
Sweet Lord Jesus, the most basic explanations have been offered to you and you still can't differentiate between net assets, reserves and cash in the back.
Give it up, you've totally embarrassed yourself here and the above makes absolutely no sense at all. You can't grasp or understand the most basic accounting concepts going.
Simply the reserves aren't liquid or cash. It's bricks. That is as simple as it gets "dullard".
And I never mentioned footing any bill or grants or government etc. I just contested that the GAA aren't a cash rich organisation at present and with the future outlook.
But for the record I've always said the GAA should be carrying its own costs and have never agreed with these grants from GPA driven agenda been paid by Gov.
Quote from: Louther on May 13, 2021, 02:06:47 PM
Quote from: Angelo on May 13, 2021, 01:53:33 PM
Quote from: Louther on May 13, 2021, 12:17:28 PM
You are so wrong it's funny. I'd love to see you sitting behind a desk if I came looking for a loan.
If you making an argument on reserves of €110m when this includes €140m of land, bricks and mortor then god help you.
Listen, dullard.
You are the guy saying that an organisation with 53m cash, sitting in a bank is not cash risk.
That is as idiotic as it gets.
I'm making an argument on reserves as it shows the net position of the organisation. An organisation that has 110m more assets than its liabilities, 53m of which is cash, in a bank account that can be put to use at a seconds notice.
This is all obvious and it's incredible that you actually can't see how stupid your argument. And it's frankly flabbergasting the arrogance you must have to truly believe you are right here when any accountant or financial expert would laugh their hole off at you about the stupidity of your statement.
Meanwhile your contention is that a organisation with net assets of 110m, with cash in a bank of 53m should not foot this bill but the govt should.
The govt who have a national debt of 250bn, a housing crisis crying out for capital investment, a health crisis crying out for investment in the public system via way of medical staff and facilities.
It's clear you haven't a notion what you're talking about but continue to show yourself for a guy who has zero common sense and a massive ego to top it off.
Sweet Lord Jesus, the most basic explanations have been offered to you and you still can't differentiate between net assets, reserves and cash in the back.
Give it up, you've totally embarrassed yourself here and the above makes absolutely no sense at all. You can't grasp or understand the most basic accounting concepts going.
Simply the reserves aren't liquid or cash. It's bricks. That is as simple as it gets "dullard".
And I never mentioned footing any bill or grants or government etc. I just contested that the GAA aren't a cash rich organisation at present and with the future outlook.
But for the record I've always said the GAA should be carrying its own costs and have never agreed with these grants from GPA driven agenda been paid by Gov.
Keep digging.
I have clearly a far better understanding of this of you. You would be laughed and ridiculed of your appraisal there. It's not me who doesn't understand basic accounting concepts. The most basic accounting concepts and ratios which are used to measure liquidity of businesses would say that the GAA are a very cash rich organisation.
They have net current assets of 35m.
Their current ratio is 1.30:1 - anything above 1.2:1 is deemed a good current ratio. Your current ratio reflects the liquidity of a company.
They have 53m in their bank account.
Now they are basic financial and accounting principles that back up the contention that the GAA is a cash rich organisation.
Have you anything other than bluster to support your risible claims?
Again, you are considering that they will return to a surplus this year, ignoring the past trading report and not considering cash flows and projections as part of the going concern concept. They lost 34m in 2020 and looking like that again. That's lot of cash burning up and going out the door. They relied heavily on Gov intervention in 2020.
I'm fed up trying to talk sense to a lamppost.
Here's what they had to say themselves
https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/ (https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/)
Quote from: Louther on May 13, 2021, 02:31:36 PM
Again, you are considering that they will return to a surplus this year, ignoring the past trading report and not considering cash flows and projections as part of the going concern concept. They lost 34m in 2020 and looking like that again. That's lot of cash burning up and going out the door. They relied heavily on Gov intervention in 2020.
I'm fed up trying to talk sense to a lamppost.
Here's what they had to say themselves
https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/ (https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/)
I'm not talking about profits and losses here. I'm talking about cash rich.
The GAA's cash position actually improved last year from 37m to 53m.
It's clear you haven't the first notion of what you're waffling about here.
You offered no metric whatsover, only bluster.
Anyone who denies the GAA are cash rich doesn't know that they are talking about. Their financial statements confirm it and any qualified financial expert or accountant would tell you that.
Quote from: Angelo on May 13, 2021, 02:35:38 PM
Quote from: Louther on May 13, 2021, 02:31:36 PM
Again, you are considering that they will return to a surplus this year, ignoring the past trading report and not considering cash flows and projections as part of the going concern concept. They lost 34m in 2020 and looking like that again. That's lot of cash burning up and going out the door. They relied heavily on Gov intervention in 2020.
I'm fed up trying to talk sense to a lamppost.
Here's what they had to say themselves
https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/ (https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/)
I'm not talking about profits and losses here. I'm talking about cash rich.
The GAA's cash position actually improved last year from 37m to 53m.
It's clear you haven't the first notion of what you're waffling about here.
You offered no metric whatsover, only bluster.
Anyone who denies the GAA are cash rich doesn't know that they are talking about. Their financial statements confirm it and any qualified financial expert or accountant would tell you that.
This is genuinely the worst take I've ever come across. You talk like you know stuff but repeating the same point over and over again, ignoring the noise round you doesn't make it right.
You should get a job on Wall Street and tell these organisations that they wasting their time on regulators and auditors, just announce how much in the bank at the year end and that'll do rightly.
Any business can be cash rich if they ignore their liabilities and outgoings knwoning that their incomings are drying up.
Quote from: Louther on May 13, 2021, 02:50:22 PM
Quote from: Angelo on May 13, 2021, 02:35:38 PM
Quote from: Louther on May 13, 2021, 02:31:36 PM
Again, you are considering that they will return to a surplus this year, ignoring the past trading report and not considering cash flows and projections as part of the going concern concept. They lost 34m in 2020 and looking like that again. That's lot of cash burning up and going out the door. They relied heavily on Gov intervention in 2020.
I'm fed up trying to talk sense to a lamppost.
Here's what they had to say themselves
https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/ (https://www.gaa.ie/news/gaa-report-deficit-of-34-1m-in-2020-financial-results/)
I'm not talking about profits and losses here. I'm talking about cash rich.
The GAA's cash position actually improved last year from 37m to 53m.
It's clear you haven't the first notion of what you're waffling about here.
You offered no metric whatsover, only bluster.
Anyone who denies the GAA are cash rich doesn't know that they are talking about. Their financial statements confirm it and any qualified financial expert or accountant would tell you that.
This is genuinely the worst take I've ever come across. You talk like you know stuff but repeating the same point over and over again, ignoring the noise round you doesn't make it right.
You should get a job on Wall Street and tell these organisations that they wasting their time on regulators and auditors, just announce how much in the bank at the year end and that'll do rightly.
Any business can be cash rich if they ignore their liabilities and outgoings knwoning that their incomings are drying up.
More bluster.
Have you any metrics of figures to back what you are saying.
Basic accounting principles, ratios and test would say the GAA are a cash rich organisation.
They are not in debt, have net current assets of 35m, have reservers of 110m, have a positive current ratio, have 53m cash in the bank.
Are you going to continue to waffle on or are you going to provide any substantive figures? I think the reason you haven't been able to make any metric that supports you argument before is that there are none. You have waffled, the accounts are publicly available and it's quite easy to rip your spoofery to shreds.
Cash in the bank of 53 (a 16m increase on last year)
35m in net assets
110m in reserves
1.3:1 current ratio
All metrics that say you are talking out of your arse when you contest the GAA are a cash rich organisation.
You constantly repeat the same few figures that have been easily dismissed above.
Financial analysis isn't looking at 1 figure at 1 moment in time - you have to look at trends, source of funds, liquidity of current assets, ageing, comparatives to same sector, markets etc etc.
Maybe you should ring Tom Ryan and tell him he is cash rich, he'd be delighted to hear that when he gets off the floor laughing.
The have slashed capital grants, games development grants, amended the players injury scheme, reduced number of games, put staff on PUP, required Gov grants to allow Intercounty games to go ahead, facing future reduced income from games plus income from renewal of corporate and ten years seats will be pushed out by 2 years, but they are cash rich.
Them Apple and Microsoft. All the one.
If you ran a bank you'd make the Last financial crisis look like speed bump.
Quote from: Louther on May 13, 2021, 03:31:46 PM
You constantly repeat the same few figures that have been easily dismissed above.
Financial analysis isn't looking at 1 figure at 1 moment in time - you have to look at trends, source of funds, liquidity of current assets, ageing, comparatives to same sector, markets etc etc.
Maybe you should ring Tom Ryan and tell him he is cash rich, he'd be delighted to hear that when he gets off the floor laughing.
The have slashed capital grants, games development grants, amended the players injury scheme, reduced number of games, put staff on PUP, required Gov grants to allow Intercounty games to go ahead, facing future reduced income from games plus income from renewal of corporate and ten years seats will be pushed out by 2 years, but they are cash rich.
Them Apple and Microsoft. All the one.
If you ran a bank you'd make the Last financial crisis look like speed bump.
More waffle and no metrics.
Financial analysis always has to be backed up by figures and that's why I took great pleasure when you let your ego run wild and started waffling on about something you don't even possess the most basic of knowledge about.
The GAA are a cash rich organisation. Their balance sheet confirms that. I have put the metrics up which substantiate that and you have provided the most incoherent gibberish any functioing adult would be humiliated by having their name associated with.
Quote from: Angelo on May 13, 2021, 03:37:25 PM
Quote from: Louther on May 13, 2021, 03:31:46 PM
You constantly repeat the same few figures that have been easily dismissed above.
Financial analysis isn't looking at 1 figure at 1 moment in time - you have to look at trends, source of funds, liquidity of current assets, ageing, comparatives to same sector, markets etc etc.
Maybe you should ring Tom Ryan and tell him he is cash rich, he'd be delighted to hear that when he gets off the floor laughing.
The have slashed capital grants, games development grants, amended the players injury scheme, reduced number of games, put staff on PUP, required Gov grants to allow Intercounty games to go ahead, facing future reduced income from games plus income from renewal of corporate and ten years seats will be pushed out by 2 years, but they are cash rich.
Them Apple and Microsoft. All the one.
If you ran a bank you'd make the Last financial crisis look like speed bump.
More waffle and no metrics.
Financial analysis always has to be backed up by figures and that's why I took great pleasure when you let your ego run wild and started waffling on about something you don't even possess the most basic of knowledge about.
The GAA are a cash rich organisation. Their balance sheet confirms that. I have put the metrics up which substantiate that and you have provided the most incoherent gibberish any functioing adult would be humiliated by having their name associated with.
;D ;D ;D ;D
You've done nothing of the sort bar repeating 3 figures over and over and over and over and over again.
Leprechaun economics.
Quote from: Louther on May 13, 2021, 03:41:21 PM
Quote from: Angelo on May 13, 2021, 03:37:25 PM
Quote from: Louther on May 13, 2021, 03:31:46 PM
You constantly repeat the same few figures that have been easily dismissed above.
Financial analysis isn't looking at 1 figure at 1 moment in time - you have to look at trends, source of funds, liquidity of current assets, ageing, comparatives to same sector, markets etc etc.
Maybe you should ring Tom Ryan and tell him he is cash rich, he'd be delighted to hear that when he gets off the floor laughing.
The have slashed capital grants, games development grants, amended the players injury scheme, reduced number of games, put staff on PUP, required Gov grants to allow Intercounty games to go ahead, facing future reduced income from games plus income from renewal of corporate and ten years seats will be pushed out by 2 years, but they are cash rich.
Them Apple and Microsoft. All the one.
If you ran a bank you'd make the Last financial crisis look like speed bump.
More waffle and no metrics.
Financial analysis always has to be backed up by figures and that's why I took great pleasure when you let your ego run wild and started waffling on about something you don't even possess the most basic of knowledge about.
The GAA are a cash rich organisation. Their balance sheet confirms that. I have put the metrics up which substantiate that and you have provided the most incoherent gibberish any functioing adult would be humiliated by having their name associated with.
;D ;D ;D ;D
You've done nothing of the sort bar repeating 3 figures over and over and over and over and over again.
Leprechaun economics.
Yes, the fact that you can't the importance understand liquidity ratios when it comes to assessing a company or organisation's cash status is part of the reason you are digging a hole for yourself in front of the whole forum.
You're the one arguing the GAA aren't a cash rich organisation. You're doing so without any financial evidence and dismissing one of the most regularly used measurements of a company's liquidity.
But apparently you know what you are talking about here.
Incredible, absolutely incredible stupidity you are displaying. You'd be some hoot in front a powerpoint assessing a company's financial performance.
Quote from: Angelo on May 13, 2021, 03:52:10 PM
Quote from: Louther on May 13, 2021, 03:41:21 PM
Quote from: Angelo on May 13, 2021, 03:37:25 PM
Quote from: Louther on May 13, 2021, 03:31:46 PM
You constantly repeat the same few figures that have been easily dismissed above.
Financial analysis isn't looking at 1 figure at 1 moment in time - you have to look at trends, source of funds, liquidity of current assets, ageing, comparatives to same sector, markets etc etc.
Maybe you should ring Tom Ryan and tell him he is cash rich, he'd be delighted to hear that when he gets off the floor laughing.
The have slashed capital grants, games development grants, amended the players injury scheme, reduced number of games, put staff on PUP, required Gov grants to allow Intercounty games to go ahead, facing future reduced income from games plus income from renewal of corporate and ten years seats will be pushed out by 2 years, but they are cash rich.
Them Apple and Microsoft. All the one.
If you ran a bank you'd make the Last financial crisis look like speed bump.
More waffle and no metrics.
Financial analysis always has to be backed up by figures and that's why I took great pleasure when you let your ego run wild and started waffling on about something you don't even possess the most basic of knowledge about.
The GAA are a cash rich organisation. Their balance sheet confirms that. I have put the metrics up which substantiate that and you have provided the most incoherent gibberish any functioing adult would be humiliated by having their name associated with.
;D ;D ;D ;D
You've done nothing of the sort bar repeating 3 figures over and over and over and over and over again.
Leprechaun economics.
Yes, the fact that you can't the importance understand liquidity ratios when it comes to assessing a company or organisation's cash status is part of the reason you are digging a hole for yourself in front of the whole forum.
You're the one arguing the GAA aren't a cash rich organisation. You're doing so without any financial evidence and dismissing one of the most regularly used measurements of a company's liquidity.
But apparently you know what you are talking about here.
Incredible, absolutely incredible stupidity you are displaying. You'd be some hoot in front a powerpoint assessing a company's financial performance.
;D ;D ;D :D :D Comical Ali of the financial world
Leprechaun Economics
That's what it's become for you now.
The posts are there and anyone who knows anything about finances will see that not only had you not a notion of what you were talking about but they will also notice the assertive confident tone you took when you made yourself look like an idiot.
That's the best part, you're so f**king arrogant that when you go and make a fool of yourself you do it bald headed.
Yeah, sure thing. ;D ;D ;D ;D
The Wolf of GaaBoard.
What has the GAA's liquidity ratios got to do with the topic in hand?
Quote from: Baile Brigín 2 on May 14, 2021, 12:55:40 AM
What has the GAA's liquidity ratios got to do with the topic in hand?
A couple of posters said the GAA weren't cash rich.
They clearly are as any brief examination of their accounts will show you.
The GAA have enough resources to be funding these grant payments to players themselves.
Quote from: Angelo on May 14, 2021, 08:57:07 AM
Quote from: Baile Brigín 2 on May 14, 2021, 12:55:40 AM
What has the GAA's liquidity ratios got to do with the topic in hand?
A couple of posters said the GAA weren't cash rich.
They clearly are as any brief examination of their accounts will show you.
The GAA have enough resources to be funding these grant payments to players themselves.
But then they would be professional. This way they got the taxpayer to foot the bill and got to play semantics
Quote from: Baile Brigín 2 on May 14, 2021, 02:49:35 PM
Quote from: Angelo on May 14, 2021, 08:57:07 AM
Quote from: Baile Brigín 2 on May 14, 2021, 12:55:40 AM
What has the GAA's liquidity ratios got to do with the topic in hand?
A couple of posters said the GAA weren't cash rich.
They clearly are as any brief examination of their accounts will show you.
The GAA have enough resources to be funding these grant payments to players themselves.
But then they would be professional. This way they got the taxpayer to foot the bill and got to play semantics
That's likely part of it.
I was taking up the contention that the GAA didn't have the resources to foot the bill which is absolute nonsense.
[https://www.daera-ni.gov.uk/publications/rural-halls-refurbishment-scheme-information-document]
Anybody in the north that is lookin a bit of funding for their local community hall should check out the link.
No point in the Orange Order gettin it all.
so is the argument that no sports person every should receive Financial assistance from the Government or is it GAA players while rugby players and soccer players get millions in Tax relief for 10 years after the stop playing even if the never played in Ireland?
Quote from: rosnarun on May 20, 2021, 10:32:08 AM
so is the argument that no sports person every should receive Financial assistance from the Government or is it GAA players while rugby players and soccer players get millions in Tax relief for 10 years after the stop playing even if the never played in Ireland?
There are several arguments.
One is that, with a finite pool of grant money it is not right to give huge cumulative sums to amateur athletes, who are able to work full time while playing their sport to a high level. While at the same time there are athletes close to the top of their sports who need to train at the very least on a semi-pro level to remain competitive, and unless they have already reached the top they are not adequately supported. Compare the hypothetical 500th best Gaelic Footballer in the country to the 50th best middle distance runner in Europe. The former gets supported and the latter does not. So how can they break in to the top 25 and get the paltry €14k a year funding? In the most part, they don't unless they reach that level prior to finishing college.
Quote from: rosnarun on May 20, 2021, 10:32:08 AM
so is the argument that no sports person every should receive Financial assistance from the Government or is it GAA players while rugby players and soccer players get millions in Tax relief for 10 years after the stop playing even if the never played in Ireland?
The tax relief is only on the years you lived on Ireland so you are off to a false premise.
The arguments are:
- the kitty for Olympians has been raided to the point of making it useless
- the state are paying gaelic games players 5.4m which has no justification
- the state are only paying gaelic games players which is discriminatory
- its not professionalism if someone else pays players
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
How much would anyone pay for a Stadium?
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
Quote from: Baile Brigín 2 on May 20, 2021, 08:41:04 PM
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
An investment fund for example who could set up a management company to run it. GAA property in Dublin is a cash cow. There's a hotel, conference centre, GAA museum, stadium tours, modern 83,000k seater stadium (with hawkeye) plus land recently purchased, plus that cushy training and fitness facility for exclusive use by the Dubs. What return do you think a management company could make annually on renting out those facilities and developing some of it? The next largest stadium in Ireland has 55,000 seats.
Arsenal's Emirate stadium, completed around the same time costing a similar amount is currently valued at GBP 344m in their accounts after depreciation.
Croke Park hasn't 83,000 seats ;)
Quote from: Main Street on May 20, 2021, 09:11:24 PM
Quote from: Baile Brigín 2 on May 20, 2021, 08:41:04 PM
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
An investment fund for example who could set up a management company to run it. GAA property in Dublin is a cash cow. There's a hotel, conference centre, GAA museum, stadium tours, modern 83,000k seater stadium (with hawkeye) plus land recently purchased, plus that cushy training and fitness facility for exclusive use by the Dubs. What return do you think a management company could make annually on renting out those facilities and developing some of it? The next largest stadium in Ireland has 55,000 seats.
Arsenal's Emirate stadium, completed around the same time costing a similar amount is currently valued at GBP 344m in their accounts after depreciation.
But if the GAA need to sell Croker there are no Dubs to rent it. There would be no requirement for a stadium of that size in Dublin so its site value only.
Arsenal's ground in a firesale could go to any number of soccer or rugby clubs.
The asset is worth what they can sell it for, not your feels
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
As some has pointed out, it's resale value would be taken into account. As would the value if it was knocked and housing/apartments etc be built which would have as much a value possibly as it needed sold as a stadium! But reality is neither would be likely.
I'd say it carried at its depreciated cost. Was highlighted last year about investment in the stadium been needed and you see that with many stadiums that they need investment to modernise and return a steady income when not in use as a sports stadium, something that Croke Park stadium have excelled at with conferencing, social events, stadium tours etc. Plus match day facilities will be constantly modernised to get supporters in and get them spending in stadium. Plus ability to stage other events more often would be a big consideration for further development.
Their assets aren't solely Croke park either with lost of property and Abbotstown as well. Not sure if they'd own the actually land there or if they be granted long term lease or if it held in trust by Government as part of the National sports campus.
Quote from: Baile Brigín 2 on May 21, 2021, 11:32:58 AM
Quote from: Main Street on May 20, 2021, 09:11:24 PM
Quote from: Baile Brigín 2 on May 20, 2021, 08:41:04 PM
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
An investment fund for example who could set up a management company to run it. GAA property in Dublin is a cash cow. There's a hotel, conference centre, GAA museum, stadium tours, modern 83,000k seater stadium (with hawkeye) plus land recently purchased, plus that cushy training and fitness facility for exclusive use by the Dubs. What return do you think a management company could make annually on renting out those facilities and developing some of it? The next largest stadium in Ireland has 55,000 seats.
Arsenal's Emirate stadium, completed around the same time costing a similar amount is currently valued at GBP 344m in their accounts after depreciation.
But if the GAA need to sell Croker there are no Dubs to rent it. There would be no requirement for a stadium of that size in Dublin so its site value only.
Arsenal's ground in a firesale could go to any number of soccer or rugby clubs.
The asset is worth what they can sell it for, not your feels
Yes I suppose I could enter on my company tax report this year, that seeing as nobody is likely to purchase the company assets in the near future, I will enter in twice the depreciation value and reduce taxes paid. ;D
There's an original value of the tangible asset and the value of that asset is entered onto the yearly accounts, minus depreciation plus inflation, just as Arsenal have done.
I'm curious to know how the GAA can just set a random low value on their valuable assets in Dublin in contrast to company law in the UK
All told, the GAA assets Croke Park stadium, hotel, convention centre, Handball centre GAA museum, Stadium tours, Abbotstown, and land acquired recently in the neighborhood, could easily realise a 30m annual return on an initial Eur300m investment to purchase those assets. Assuming Croke Park would get a license for a number of events such as concerts soccer/GAA games, American Football.
Quote from: Main Street on May 21, 2021, 10:21:20 PM
Quote from: Baile Brigín 2 on May 21, 2021, 11:32:58 AM
Quote from: Main Street on May 20, 2021, 09:11:24 PM
Quote from: Baile Brigín 2 on May 20, 2021, 08:41:04 PM
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
An investment fund for example who could set up a management company to run it. GAA property in Dublin is a cash cow. There's a hotel, conference centre, GAA museum, stadium tours, modern 83,000k seater stadium (with hawkeye) plus land recently purchased, plus that cushy training and fitness facility for exclusive use by the Dubs. What return do you think a management company could make annually on renting out those facilities and developing some of it? The next largest stadium in Ireland has 55,000 seats.
Arsenal's Emirate stadium, completed around the same time costing a similar amount is currently valued at GBP 344m in their accounts after depreciation.
But if the GAA need to sell Croker there are no Dubs to rent it. There would be no requirement for a stadium of that size in Dublin so its site value only.
Arsenal's ground in a firesale could go to any number of soccer or rugby clubs.
The asset is worth what they can sell it for, not your feels
Yes I suppose I could enter on my company tax report this year, that seeing as nobody is likely to purchase the company assets in the near future, I will enter in twice the depreciation value and reduce taxes paid. ;D
There's an original value of the tangible asset and the value of that asset is entered onto the yearly accounts, minus depreciation plus inflation, just as Arsenal have done.
I'm curious to know how the GAA can just set a random low value on their valuable assets in Dublin in contrast to company law in the UK
All told, the GAA assets Croke Park stadium, hotel, convention centre, Handball centre GAA museum, Stadium tours, Abbotstown, and land acquired recently in the neighborhood, could easily realise a 30m annual return on an initial Eur300m investment to purchase those assets. Assuming Croke Park would get a license for a number of events such as concerts soccer/GAA games, American Football.
Croke Park is limited by planning conditions to 3 or 4 non Gaa events per year
As Garth Brooks showed,there's no chance of getting that increased,ever.
https://roscommonherald.ie/2021/05/22/roscommon-gaa-to-have-to-paddle-their-own-canoe-on-dr-hyde-park-
refurbishment/
No grants for the little people.
Now if only we had a Government Minister....
Quote from: Main Street on May 21, 2021, 10:21:20 PM
Quote from: Baile Brigín 2 on May 21, 2021, 11:32:58 AM
Quote from: Main Street on May 20, 2021, 09:11:24 PM
Quote from: Baile Brigín 2 on May 20, 2021, 08:41:04 PM
Quote from: Main Street on May 20, 2021, 06:44:13 PM
Quote from: Louther on May 12, 2021, 11:38:53 PM
53m at October 2020 but have lost 27m in the 12m to that date with more losses to come in 2021. With lots is restrictions in spending already flagged. Lots of liabilities against the cash balance.
€110m in reserves includes the 53m, and main part of that would be capital assets like Croke Park.
This is, unsurprisingly, a very poor take on 1 figure to call the GAA cash rich. Abs with outlook it will take years to build up its position again. On average the GAA built up €3-5m in surplus per year. In two years it's looking at 50-60m in deficits and to avoid more is relying on state money to keep it going.
GAA isn't cash rich.
The capital asset value looks suspiciously low - almost Trumpian. Croke Park cost 260m to develop by 2004, inflation adj to 310m, then add in every GAA property around the country. When it comes to annual accounts, are sports stadia and adjoining facilities valued differently than a regular commercial property?
Yes. Who do you sell it to?
An investment fund for example who could set up a management company to run it. GAA property in Dublin is a cash cow. There's a hotel, conference centre, GAA museum, stadium tours, modern 83,000k seater stadium (with hawkeye) plus land recently purchased, plus that cushy training and fitness facility for exclusive use by the Dubs. What return do you think a management company could make annually on renting out those facilities and developing some of it? The next largest stadium in Ireland has 55,000 seats.
Arsenal's Emirate stadium, completed around the same time costing a similar amount is currently valued at GBP 344m in their accounts after depreciation.
But if the GAA need to sell Croker there are no Dubs to rent it. There would be no requirement for a stadium of that size in Dublin so its site value only.
Arsenal's ground in a firesale could go to any number of soccer or rugby clubs.
The asset is worth what they can sell it for, not your feels
Yes I suppose I could enter on my company tax report this year, that seeing as nobody is likely to purchase the company assets in the near future, I will enter in twice the depreciation value and reduce taxes paid. ;D
There's an original value of the tangible asset and the value of that asset is entered onto the yearly accounts, minus depreciation plus inflation, just as Arsenal have done.
I'm curious to know how the GAA can just set a random low value on their valuable assets in Dublin in contrast to company law in the UK
All told, the GAA assets Croke Park stadium, hotel, convention centre, Handball centre GAA museum, Stadium tours, Abbotstown, and land acquired recently in the neighborhood, could easily realise a 30m annual return on an initial Eur300m investment to purchase those assets. Assuming Croke Park would get a license for a number of events such as concerts soccer/GAA games, American Football.
Straight up the hotel and Abbotstown aren't GAA assets in they own neither. The GAA have zero chance of getting more events in to Croker. So €30m for conferences, stadium tours and skywalking post Covid? If you want
Seems strange to me that the debate is the GAA grants should be cut, why isn't the pot should be much bigger for all sports?