LOI Financial Impact Report

[EatYerGreens]

Just released today by the FAI is the Financial Impact Report of the league for the 2023 season :

League of Ireland contributes €164.7m annually to Irish Economy, BDO Ireland Report finds (https://www.leagueofireland.ie/news/league-ireland-contributes-euro-1647m-annually-irish-economy-bdo-ireland-report-finds/)

Great to see pretty much every indicator moving in the right direction. Though we're still quite far off our potential as a league, or as a sector that the government will take much genuine interest in.

[pateen]

Interesting.

Time to throw in tax breaks for players as well

[yurt]

Finally some actual good work done by the FAI to state the economic case for the LOI. This is the bare minimum that should have been done for decades but we've finally seen come 5 years after that tosspot left the organisation.

This needs to be an annual report and hopefully we can see these numbers continue to improve and that in years down the line any investment in football and the LSSIF in particular are massively profitable investments.

[pineapple stu]

Interesting.

Time to throw in tax breaks for players as well
They have them already don't they?

[CorribsideSteve]

Very interesting. I've kinda always wondered how many people the LOI employs directly or indirectly. Good to put a number on it. That 165m figure seems pretty encouraging for what's still by and large a minority sport in this country.

[ger121]

They have them already don't they?

I thought that was no longer something Sports People could claim back.

[pineapple stu]

Still on the Revenue site anyway

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/income-and-employment/sports-person-relief/about-the-relief.aspx

[Dexy]

Have they included all betting shop staff?

[Straightstory]

Very interesting. I've kinda always wondered how many people the LOI employs directly or indirectly. Good to put a number on it. That 165m figure seems pretty encouraging for what's still by and large a minority sport in this country.
Huh? What about all those Man United and Liverpool fans?

[EatYerGreens]

Huh? What about all those Man United and Liverpool fans?

I hate to break it to you, but Liverpool and Manchester are not in this country :cool:

[Dermobohs]

That’ll be news to all the “mancs” and “scousers” in the pubs….

[CorribsideSteve]

Huh? What about all those Man United and Liverpool fans?

Well the first thing the 165m figure does, or should do is get the PL worshippers to stop and think. Many probably believe the league generates 165 grand, full stop. So for people like that, it should hopefully make them take some notice. I don't know if there's a single other nation that get's behind a bandwagon like Irish people do. 24K people came out to see Shels Deportivo back in the day, and similar numbers for Dundalk Legia. The Cup Finals are now regularly at a point where the Aviva is mostly full. The aim now surely is to capitalize on the upward momentum of crowds, reports like this, our best teams doing relatively well in Europe in seasons to come etc so that such bandwagon enthusiasm isn't just confined to select historical examples, but something regular one day.

[LTFC]

Had a browse of the report earlier, and like similar reports it will focus on the postivies, 165m to economy, almost 1m in attendances, 1700 people employed/engaged.
When we compare with the Horseracing, which includes bloodstock its still tiny - 2.46b, 30,350 employed. But soccer is closing attendance gap, 1.2m at racemeetings in 2023.

However, LOI is worth more to Irish economy that Greyhound Racing. Greyhound racing got 19m in last years budget.

[joey B]

Had a browse of the report earlier, and like similar reports it will focus on the postivies, 165m to economy, almost 1m in attendances, 1700 people employed/engaged.
When we compare with the Horseracing, which includes bloodstock its still tiny - 2.46b, 30,350 employed. But soccer is closing attendance gap, 1.2m at racemeetings in 2023.

However, LOI is worth more to Irish economy that Greyhound Racing. Greyhound racing got 19m in last years budget.

I think the comparison with Greyhound racing has to continuously driven home,there’s no rational reason for it to get 19million a year and football not to get more …..

[yurt]

I think the comparison with Greyhound racing has to continuously driven home, there’s no rational reason for it to get 19million a year and football not to get more …..

Completely agree, the dogs in particular is a fairly sick practice and the fact it's state funded is a national embarrassment.

The petty man in me would love if an LOI club started a campaign to adopt rescued greyhounds. Bring out the dogs at half time and encourage people to foster them after suffering from the abuses involved in training them.

Would generate a few headlines at the very least.

[CorribsideSteve]

Completely agree, the dogs in particular is a fairly sick practice and the fact it's state funded is a national embarrassment.

The petty man in me would love if an LOI club started a campaign to adopt rescued greyhounds. Bring out the dogs at half time and encourage people to foster them after suffering from the abuses involved in training them.

Would generate a few headlines at the very least.

That's actually a decent idea.

[Mr A]

Had a browse of the report earlier, and like similar reports it will focus on the postivies, 165m to economy, almost 1m in attendances, 1700 people employed/engaged.
When we compare with the Horseracing, which includes bloodstock its still tiny - 2.46b, 30,350 employed. But soccer is closing attendance gap, 1.2m at racemeetings in 2023.

However, LOI is worth more to Irish economy that Greyhound Racing. Greyhound racing got 19m in last years budget.

Chunks of the horse racing report was just absolute made up crap though. Many of the claims in it were laughable. A few covered it at the time but mostly it was just accepted. They have friends in high places, different world to the LOI.

[joey B]

1859881076480790656

Combined losses of 7.6 million for 9 of the 10 2023 Premier Division clubs….

[placid casual]

If only we could all be like boez ,we'd be so happy.
We could relieve the trophy room cleaner of their duties for a start.

[2 Year Contract]

Interesting that the year Bohs went full time in 2022 is the year they started joining the others in making losses

[Another Bohemia]

Interesting that the year Bohs went full time in 2022 is the year they started joining the others in making losses

I'll have to look into it more but Bohs started transitioning to full time before 2022. Looking at the squad list for 2021 I think the vast majority including the management team were full time. Only one I know had a job being Wardy but even then he may have packed it in by that stage. Id say the losses that year are more than likely down to sacking a manager who had a few years left on his contract

[2 Year Contract]

I'll have to look into it more but Bohs started transitioning to full time before 2022. Looking at the squad list for 2021 I think the vast majority including the management team were full time. Only one I know had a job being Wardy but even then he may have packed it in by that stage. Id say the losses that year are more than likely down to sacking a manager who had a few years left on his contract

The lack of European football since 2021 would be a factor too i suppose

[EatYerGreens]

1859881076480790656

Combined losses of 7.6 million for 9 of the 10 2023 Premier Division clubs….

What does it say when the only 2 years that the league as a whole didn't lose money were the years when there was a global pandemic, with fans prevented from physically attending games?

This tells me that the obvious route to financial sustainability is to get rid of the supporters :good:

[nigel-harps1954]

What does it say when the only 2 years that the league as a whole didn't lose money were the years when there was a global pandemic, with fans prevented from physically attending games?

This tells me that the obvious route to financial sustainability is to get rid of the supporters :good:

Or, it's amazing what you can do with a bit of extra government support.

[redobit]

https://www.echolive.ie/corksport/arid-41521007.html

Looks completely unsustainable. Cork fans would want to get together and try to ... Oh hold on, nevermind.

[pineapple stu]

How on earth do Cork need that level of money thrown at them to be relegated from the Premier/win the First?

[EatYerGreens]

How on earth do Cork need that level of money thrown at them to be relegated from the Premier/win the First?

"I was caught like a robin in headlights" :D

Crazy how he describes the money he put in as "investment". Like he's ever going to see it again, nevermind a return.

[oriel]

How on earth do Cork need that level of money thrown at them to be relegated from the Premier/win the First?

Wouldn't think Maguire is cheap, and prob had a signing on deal too, Keating either for that matter would have been on PD wages.

[Nesta99]

An eye for bathrooms are just what you need for football clubs merchandise golden goose - you're slacking off Bohs!

Is there a suggestion that there is to be 'Cork City' type branding rather than CCFC or just the way the journalist phrased things. The former wouldnt be at all like the HF/Dublin City genius of tourist jersey sales.

I wish Dundalk had a handy €1.4m investment from a new owner these days....

[Another Bohemia]

An eye for bathrooms are just what you need for football clubs merchandise golden goose - you're slacking off Bohs!

Is there a suggestion that there is to be 'Cork City' type branding rather than CCFC or just the way the journalist phrased things. The former wouldnt be at all like the HF/Dublin City genius of tourist jersey sales.

I wish Dundalk had a handy €1.4m investment from a new owner these days....

I've seen mock ups of a jersey with a toilet on it alright. It symbolized where our season ended up last year :D

[pineapple stu]

Wouldn't think Maguire is cheap, and prob had a signing on deal too, Keating either for that matter would have been on PD wages.
Surely they can afford a couple of guys on Premier wages given they have more coming through the gates than half the Premier?

(Who admittedly seen to be haemorrhaging cash at a similar rate ..)

[Nesta99]

I've seen mock ups of a jersey with a toilet on it alright. It symbolized where our season ended up last year :D

I was thinking more Rovers themed bogroll in Bohs store.

[EatYerGreens]

I was thinking more Rovers themed bogroll in Bohs store.

For the real 'hoops'

[legendz]

League of Ireland financial report.
https://www.rte.ie/sport/soccer/2024/1030/1478161-league-of-ireland-contributes-164m-to-irish-economy/

The GAA respond with their economic impact.
https://www.gaa.ie/article/social-value-of-gaelic-games-worth-2-87-billion-to-irish-society

The GAA are now dealing with revenue issues.
https://www.rte.ie/sport/football/2024/1210/1485778-county-boards-want-hq-to-take-lead-on-revenue-issues/

[Nesta99]

Hopefully the new government with their Rovers Fine Gaelers will point out that a sport isnt skint when the governing body had major financial reserves sitting in the bank and that they have massive wealth generating capacity with large stadia nationwide along with one of the biggest in Europe. It is typical that they have played the poor mouth in fear of missing a beat but its from their old playbook - they have serious middle child like issues seeing anything that others (may) get as them being neglected. Im not that sure why Croke Park should be expected to step in for county boards, it'd be like asking the FAI even if minthed to just pay the taxman on behalf of clubs that havent bothered (currently a fantastic idea!).

[joey B]

https://www.businesspost.ie/news/us-based-kerry-businessman-acquires-controlling-stake-in-kerry-fc/

Wasn’t sure where to put this but 1.5 million invested in Kerry FC by Tralee native John Wall, the chief financial officer of Nasdaq-listed Cadence Design Systems…..

[2 Year Contract]

https://www.businesspost.ie/news/us-based-kerry-businessman-acquires-controlling-stake-in-kerry-fc/

Wasn’t sure where to put this but 1.5 million invested in Kerry FC by Tralee native John Wall, the chief financial officer of Nasdaq-listed Cadence Design Systems…..

Nice! Maybe Brian Ainscough's comments this time last year about Kerry being 5-10 years away from a club like Dundalk were true after all… in a roundabout way ;)

[culloty82]

https://www.businesspost.ie/news/us-based-kerry-businessman-acquires-controlling-stake-in-kerry-fc/

Wasn’t sure where to put this but 1.5 million invested in Kerry FC by Tralee native John Wall, the chief financial officer of Nasdaq-listed Cadence Design Systems…..

The son of a retired Tralee Town and Kerry County Councillor of the same name, so, being local, you'd hope he'd be involved for the long haul!

[culloty82]

The bigger concern would be how Kerry managed to make a net loss of €200k last year, when their outgoings would presumably be one of the lowest in the league?

[legendz]

The net loss is concerning alright. It cannot be sustainable. Better to be in a National League and cutting their cloth than to be making unnecessary losses.

[LTFC]

Would some of that be accumulated losses from other years when the underage played LOI? Does seem high for 1 year for a first div club, probably being run for under 400k in 2023.

[Zico]

The club put €250k into mounthawk park in 2023, as they don’t own the ground I would imagine this was treated as operating expense (normally capital). There also probably was significant one off legal, accountancy costs around putting licence applications, business plans together etc. I would not get too hung up on paper profits either way.

Football is a cash business and clearly Kerry now have decent funds to plan for the next 5 years (time to establish themselves as a solid first division club with a good academy etc.)

It’s also great to see a guy leave Tralee many years ago, do really well for himself and put something back into his home town / county.

Is Dennehy going to be full time in CEO role I wonder?

[culloty82]

The club put €250k into mounthawk park in 2023, as they don’t own the ground I would imagine this was treated as operating expense (normally capital). There also probably was significant one off legal, accountancy costs around putting licence applications, business plans together etc. I would not get too hung up on paper profits either way.

Football is a cash business and clearly Kerry now have decent funds to plan for the next 5 years (time to establish themselves as a solid first division club with a good academy etc.)

It’s also great to see a guy leave Tralee many years ago, do really well for himself and put something back into his home town / county.

Is Dennehy going to be full time in CEO role I wonder?

He wouldn't have much to live off if it was set against his share in the club, at any rate - not sure what he worked at between his retirement and Kerry FC launching?