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24 Jun, 2025
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Thomond Park firm nets operating profits of €366,600 on back of concerts
@Source: independent.ie
The stadium hosted three gigs last July, and last year’s €13.5m economic spin-off from the concerts for the Limerick and midwest area will continue next month. There are shows on July 11, 12 and 13, when the Wolfe Tones will play two nights and The Script play one concert. This year is the third year that the stadium firm, Thomond Park Stadium Co Ltd, has linked up with promoters MCD to stage concerts at the stadium. In January of this year, an economic impact assessment by Repucon Consulting, which was commissioned by Munster Rugby, reported that the 73,000 fans who attended last July’s gigs created the positive economic impact worth €13.5m. The stadium firm operates the home of Munster rugby, and it generates its revenues from licence fee income from rugby games, rights income, hospitality and catering income, rental income, bar income and from public events such as next month’s concerts. The accounts for Thomond Park Stadium Company DAC show the licence fee income from the Munster branch of the IRFU surged from €598,405 to €835,083 in the 12 months to the end of July. Munster ensured a continuation of that level of income by qualifying for next season’s Champions Cup after finishing sixth in this year’s URC competition, winning their final two games. The company recorded post-tax losses of €691,140 in the 12 months to the end of July, and the losses take account of non-cash depreciation costs of €1.057m. The post-tax loss was down 27pc on the post-tax loss of €949,607 for fiscal 2023. The amount owed by the firm to the Munster branch totalled €17.69m at the end of July. Numbers directly employed remained static at seven, and staff costs declined from €405,300 to €399,145. At the end of July, the stadium firm had shareholder funds of €4.17m. A note states that the repayment schedule on the €17.18m owed to promoters, the IRFU and the Munster branch of the IRFU at the end of July “will be on a basis appropriate to company cash-flows”. The accounts placed a book value of €22.06m on its tangible assets at the end of July.
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