Munster 2013/2014

[simonokeeffe]

Pau confirmed, 2 year deal.

for Coughlan?

Of course, why?

thought for a second Downey was confirmed too

[RobbieRockBoy]

Some interesting figures:
http://gameoverballburst.me/2014/06/06/ ... is-bright/

THE MUNSTER rugby AGM for 2014 took place last night, June 5 at UL Bohemians RFC Limerick. The main order of business on the night was the election of Mick Goggin (pictured) as Branch President for the incoming year.

Other items in the agenda included last season’s accounts as well as an update on the redevelopment of Irish Independent Musgrave Park.

Speaking to the media ahead of the AGM itself, Philip Quinn, Financial Controller of Munster Rugby outlined the year just gone, as well as announcing a restructuring of the Thomond Park loan repayments.

“For the year ending June 30 2013, we showed a cash-flow of €0.8m. That changed about 170k from what I said at the AGM last year. So it was actually 170k worse” Quinn said.

“We have been in negotiations with the IRFU for some years on our loan commitments to Thomond Park. We were in an agreement to pay a million a year at the moment. That has been restructed now to mean Munster only pay 100k a year. The deal was originally until 2017, but has now been extended to 2027. This has given us a lot more freedom” the FC continued.

The restructuring of the debt is good news for Munster fans who will know that financial pressures are one reason behind Munster being unable to compete on the transfer market. However, the Munster branch have also been in negotiations with the IRFU about more financial aid.

Philip Quinn was able to confirm that a deal similar to Connacht’s €1m investment from the IRFU was on the cards.

“We are also looking for a grant similar to Connacht. The extra million Connacht got this year from the IRFU is something we have been in discussions with the IRFU about. I am not at liberty to say what the exact details are on that at present, but it will make a big difference in our defecit”

With work on Musgrave Park redevelopment about to start next week, Munster’s ability to generate revenue from the stadium is expected to be a factor as soon as next season. (post Christmas)

Again, Philip Quinn explains, “

Obviously we can continue to play pro rugby at the venue. We are looking to drive additional revenue within the venue. We have Il Divo playing there in two weeks time. That will be a 14,500 out door concert. The seating for same is going in next week. It is about showcasing the venue and the facilities we have there once redeveloped.”

“We have cut back as much as we can and it’s now about driving our revenue. Maximising our gates, getting that back to normal levels and also through the commercial boards and sponsorships too” Quinn continued.

Munster, thanks to the IRFU and some new potential sponsorship deals in the pipeline through the commercial board are on course to break even next season. Something that three seasons ago was seen as almost impossible.

With the restructuring of debt being a major plus, Garrett Fitzgerald, CEO of Munster Rugby has offered his thanks to the IRFU for all their assistance.

“Going way back to the start when the plans for Thomond Park were put together when the economy was on a total high it was proposed that our ability to repay was put at 1 million euro (per annum) but that has had to be revisited and now what we’ve done is downsize the annual payment in agreement with the IRFU on the basis that they have lengthened the repayment period”

“It impacts on the cashflow situation becuase you need to have cash to run a business like this. So it’s a huge boost for our cashflow situation and we very much appreciate the assistamce the IRFU have offered.”

In summary, Munster will not be looking to recruitment any more players this season, coupled with cost cutting and a new Pro12 and European Champions Cup it appears that Munster will enter into a new phase of European Rugby on a stronger footing. The future, indeed, looks bright for Munster Rugby.



The key points from last night’s AGM

- Musgrave Park redevelopment is to commence next week.

- IRFU debt on Thomond Park restructured from €1m a year to 100k until 2027

- Season ticket sales for this coming season on a par with last. Seems to have plateaued at this level now.

- Munster will continue to ‘rent’ out Thomond Park and Musgrave Park for concerts. The branch charge a set hosting fee for these events thus guaranteeing income regardless of ticket sales.

FYI – Some interesting points from last night.

Heineken Cup QF breakdown.

Philip Quinn – “The Heineken Cup quarter final against Toulouse created in excess of 450k profit. The revenue from a Heineken Cup quarter final can be about 900k. Match costs are 180k, That leaves you with 720k, the visiting team gets 360k, we get 360k, the IRFU takes 180k of our 360k, so that leaves us with 180k. The IRFU takes the prize money too which would be about 450-500k. It’s very lobsided alright, but in fairness to the IRFU they are providing some financial support to us now too”

UL Training Facility update

“Planning permission has been submitted. UL will build the centre and then rent it exclusively to Munster over a long-term period, 15 years and upwards. It will be fully operational by July 2016.” – Garrett Fitzgerald

Pro Team Costs

“There was also some additional pro team costs resulting from performance related bonuses. Again, from getting to the Heineken Cup Quarter final. There is also a structure of match bonuses. The IRFU allow us (Munster) 10 win bonuses for the players. The IRFU pay all those bonuses for us. If you win more than that, the bill gets higher for the province at the end of the year. We are actually over budget on that side of things.” Philip Quinn

Thomond Park naming rights

This appears to be still on the table, but Munster have not approached anyone on same.

Sky Sports kick off times announced for Pro12 next season
Garrett Fitzgerald “Sky have come forward already with their kick-off times. They will be Saturday afternoons. They are covering 30 games and my understanding is that 22 of them will be about 3pm on a Saturday and 8 will be at 5pm or 5.15pm on a Saturday. They have already declared their hand which is a major help and I would strongly encourage the other TV channels to be progressive and long-term planning with regard to their timing with a view to helping us to have a more spectator friendly competition.

[meinster]

Hard to not see the good news of restructuring as worrying.

Does the last paragraph all but confirm terrestrial broadcasters are back on board, in some capacity, for Pro12?

Nice summary!

[paddyor]

Hard to not see the good news of restructuring as worrying.

Does the last paragraph all but confirm terrestrial broadcasters are back on board, in some capacity, for Pro12?

Nice summary!

+1 Does seem like they're dressing it up. They're out of the transfer market and will need to really increase their income to close that gap.

[Peg Leg]

Bad enough to have a divided fan base, but ploughing money into that divide is scandalous. The irfu should actually step in there. Munster is not too big to have just the one stadium.

[rookie]

Bad enough to have a divided fan base, but ploughing money into that divide is scandalous. The irfu should actually step in there. Munster is not too big to have just the one stadium.

What does that mean?

[ronk]

Bad enough to have a divided fan base, but ploughing money into that divide is scandalous. The irfu should actually step in there. Munster is not too big to have just the one stadium.

What does that mean?

It means the chip on your shoulder is about right

Or it means that Cork and Thomond Park are still on the wrong side of the Shannon from each other.

[rookie]

Bad enough to have a divided fan base, but ploughing money into that divide is scandalous. The irfu should actually step in there. Munster is not too big to have just the one stadium.

What does that mean?

It means the chip on your shoulder is about right

Or it means that Cork and Thomond Park are still on the wrong side of the Shannon from each other.

And there's me thinking all rugby fans from munster were Munster fans. The other side of the Shannon is Leinster?

[Morf]

Connacht get Thomand and Munster get Musgrave. Sorted.

[rookie]

Connacht get Thomand and Munster get Musgrave. Sorted.

Where the hell is that?

[ronk]

And there's me thinking all rugby fans from munster were Munster fans. The other side of the Shannon is Leinster?

Athenry is in Galway.

[Peg Leg]

Jaysus rookie, case in point

[rookie]

And there's me thinking all rugby fans from munster were Munster fans. The other side of the Shannon is Leinster?

Athenry is in Galway.

Tis! but west of the Shannon, no?

[rookie]

Jaysus rookie, case in point

Yerra!

[offshorerules]

Hard to not see the good news of restructuring as worrying.

Does the last paragraph all but confirm terrestrial broadcasters are back on board, in some capacity, for Pro12?

Nice summary!

I think you're right, I'd also be a bit worried that revenue expectations were not met. As an aside I often wonder about the wisdom of reporting attendances including season ticket numbers. It strikes me that if your average Munster fan knew that the actual number turning up to support their team was so low they would make a greater effort to show up. It's not just Munster either it has to be said but with the split support base they are particularly disadvantaged.

[Oldschool]

And there's me thinking all rugby fans from munster were Munster fans. The other side of the Shannon is Leinster?

Athenry is in Galway.

Tis! but west of the Shannon, no?

Thomo/and is wesht of the Shannon too.

[Peg Leg]

I think that's his point OS

[ronk]

I don't think he had a point.

[offshorerules]

The silly season is really aptly named is it not?

[olaf the fat]

They are out of the transfer market, but do they not already have their business done?

Are the replacements for departing players not already sorted?