Cedral St Conleth’s to be debt free within two years

Cedral St Contleth’s Park, Kildare GAA’s brand new €17.5m redevelopment stadium will be debt free within two years Co Treasurer, Alan Dunney, told County Board delegates at the November meeting on Tuesday night.

The Co Treasurer also told delegates that the county will return a surplus of €500k for the year although he said that the figure came with a “health warning” in advance of presentation of the accounts to the Kildare Annual Convention in December.

Mr Dunney said that the overall funding received for the Cedral St Conleth’s Project was €20.7m, which included a Bank Loan of €2.5m, €2m of which had been drawn down. With the overall cost of the project at approx. €18m, the Co Treasurer informed delegates that this left a surplus of €2.7m and that it was the intention of the Co Board to pay back the Bank Loan straight away to clear the debt within two years, allowing for further investment in Manguard Park.

Income for the year was showing at €2.5m with expenditure at €2m. Describing it as a “healthy year” for Kildare GAA, Mr Dunney said that Gate Receipts increased to €400k, despite the unavailability of Cedral St Conleth’s Park, Commercial Receipts increased to €500K and Fundraising was also up at €440K.

The full set of accounts will be presented to the Annual Convention which is scheduled to take place on 11 December.