Music icon Bruce Springsteen's sold-out concert at Páirc Uí Chaoimh last year boosted the stadium's management company's revenue by 55% to €5.5m.
Cash receipts from the 40,000 fans who attended Springsteen's show in Cork and a sell-out Munster Hurling Championship match against Limerick in May 2024 helped Páirc Uí Chaoimh CTR reduce its pre-tax loss by 29% to €1.9m for the period.
According to financial data, for the year ending September 2024, revenue increased by 1.93 million euros: from 3.62 million to 5.55 million euros.
The stadium operator recorded earnings before interest, taxes, depreciation and amortisation (EBITDA) of €582,491 against an EBITDA loss of €331,561 in 2023, reflecting an improvement of €914,052.
Páirc Uí Chaoimh, built in 2017 at a cost of €96 million, has incurred significant costs in the past period, including non-cash charges for depreciation (€1.52 million) and loan interest (€957,874) related to the upgrade of the property.
The management noted that the refurbishment of the arena was funded by funds from Cork County Council, a €20 million grant from Cumann Lúthchleas Gael, subsidies from the Department of Sport and Munster Council (€34.64 million), bank loans, as well as income from long-term season tickets and other programs.
In 2024, the site was renamed SuperValu Páirc Uí Chaoimh following a ten-year sponsorship deal between the county council and the retailer.
The partnership with SuperValu is expected to generate approximately €250,000 annually for Cork GAA.
Sourse: breakingnews.ie
