Harps make profit for 5th year in a row

**Mr A** · 21/02/2006, 1:17 PM

Harps announced a profit of just over 2k for 2005 at our AGM on Sunday. The meeting was told that the club should be completely clear of debt within the next 12-18 months.

At the same meeting the shareholders gave the board full and final authority to bring the move to Stranolar to completion. A draft agreement has been received from the trustees to enable the move and the club will go to tender over the next few months. An archaeological of the new site has been done and is clear, and the FAI has approved the move. There's a way to go yet, but the prospects are good.

For more detail on this and more see http://finnharps.openhosts.com/News/06Feb20AGM2006.html

**Risteard** · 21/02/2006, 1:23 PM

Originally Posted by Galway Harps

Harps announced a profit of just over 2k for 2005 at our AGM on Sunday. The meeting was told that the club should be completely clear of debt within the next 12-18 months.

Fair play!!!!!

Originally Posted by Galway Harps

At the same meeting the shareholders gave the board full and final authority to bring the move to Stranolar to completion. A draft agreement has been received from the trustees to enable the move and the club will go to tender over the next few months.

Must be years behind the gossip!
How long has this been in the pipeline?
What's wrong with Finn Park?
Ye own the land?

**pete** · 21/02/2006, 1:29 PM

How did Harps get a Premier licence last season if the ground proposals are just that...proposals?

**Schumi** · 21/02/2006, 1:32 PM

That's all that was required.

**Mr_T** · 21/02/2006, 1:36 PM

Because they are tangible, realistic proposals which were accepted as an Infrastructure Development Plan by Licensing over the past couple of years, as have other clubs whose infrastructure was never going to be up to standard in the timescale of licensing. Harps also had to carry out Health and Safety improvements to several areas of the ground (almost €100k worth) to enable these areas to remain in use in the interim.

If Harps were not showing progress on the IDP they would not have continued to get a license. As reported above however, they are. It is now getting to the stage with the new (yet to be seen) FAI Criteria coming into effect for 2007 that the ground will actually have to get built, which is what the shareholders approved to go ahead on Sunday and the project will go to tender in the coming few months.

Happy?

**pete** · 21/02/2006, 1:39 PM

Originally Posted by Mr_T

Harps also had to carry out Health and Safety improvements to several areas of the ground (almost €100k worth) to enable these areas to remain in use in the interim.

I do accept that improvements were made during last season but I also believe its unacceptable that a Premier division licence was given for ground that had no lighting under the covered terrace, no steps in that terrace & no toilet facilities for away fans (hole in the ground doesn't count).

I don't want to start an argument but anyone can come up with aspirational proposals. Surely a time limit has to be applied?

**Mr_T** · 21/02/2006, 1:53 PM

Originally Posted by pete

I do accept that improvements were made during last season but I also believe its unacceptable that a Premier division licence was given for ground that had no lighting under the covered terrace, no steps in that terrace & no toilet facilities for away fans (hole in the ground doesn't count).

I don't want to start an argument but anyone can come up with aspirational proposals. Surely a time limit has to be applied?

Basic improvements were made to unsafe things like emergency exits, loose surfaces etc. Toilet facilities were improved during last season with the provision of a new toilet block, while porta loos were available all season for away fans.

The move plans are not aspirational, (more importantly the FAI believe they are not) and have been constantly making progress from acquiring a site, lodging planning permission which was granted at the start of last season. Anyone can say "aye sure we'll build a new ground". Harps plans stood up to scrutiny. Look forward to seeing Cork play Harps in Stranorlar next season.

**Macy** · 21/02/2006, 1:53 PM

Originally Posted by pete

I don't want to start an argument but anyone can come up with aspirational proposals. Surely a time limit has to be applied?

Lots of clubs got away with aspirational ground development. Drogs would be another example. UCD have even changed the proposal from doing up Belfield to sharing the bowl!

Anyway, fair play to harps on the profit. Hopefully more and more clubs will follow their lead and be run in such away.

**Mr A** · 21/02/2006, 1:54 PM

no lighting under the covered terrace, no steps in that terrace & no toilet facilities for away fans

None of that is the case in Finn Park as we speak. All terraces are stepped (the stand always had lighting) and a new toilet block has been added. Despite the fact that we're moving we've spent a lot of money on health and safety in the meantime, it's not great, but what do you want when we're moving within a few years?

The move is and always has been a concrete plan, not 'just a proposal'.

To answer Risteards question- we don't own the land, but it is held in trust for the club and the people of the twin towns. The idea behind the move is to cash in on the enormous value of Finn Park (zoned commercial and marked as the new town centre in county council plans) and move just across the river to another site (zoned recreational, not worth that much) and use the difference to build a state of the art stadium and facilities. The trustees would own the new ground, but it would be for the exclusive use and under the control of Finn Harps, just like Finn Park has always been.

**Bald Student** · 21/02/2006, 1:54 PM

Originally Posted by pete

Surely a time limit has to be applied?

A 5 year limit was applied and harps should be coming in 2 years ahead of schedule.

**anto eile** · 21/02/2006, 9:07 PM

fair play to Harps.
making a very tight profit of E2K..whoever does your budget needs a pat on the back- thats some balancing act

**pete** · 21/02/2006, 9:42 PM

Originally Posted by anto eile

fair play to Harps.
making a very tight profit of E2K..whoever does your budget needs a pat on the back- thats some balancing act

I think its called creative accounting

**Mr A** · 21/02/2006, 9:57 PM

In the previous years it would always have been just as tight but for exceptional factors- really big crowds for the first division title win over Dundalk, playoffs etc. Last year the whole season was a disaster so it was quite an achievement not to go into loss making. The club had moved from being 750k in debt 5 years to seeing a time within the next 12-18 months when we're debt free, and hopefully playing in a brand new stadium. It's a different style of ambition to what a lot of clubs have applied, but I hoenstly believe it's the way to go.

**Speranza** · 21/02/2006, 10:44 PM

Fair play Harps. Good to see the move to Stranolar wasn't just a pipe dream. In all honesty though Harps should be in Leterkenny.

**A face** · 21/02/2006, 11:46 PM

Originally Posted by Galway Harps

In the previous years it would always have been just as tight but for exceptional factors- really big crowds for the first division title win over Dundalk, playoffs etc. Last year the whole season was a disaster so it was quite an achievement not to go into loss making. The club had moved from being 750k in debt 5 years to seeing a time within the next 12-18 months when we're debt free, and hopefully playing in a brand new stadium. It's a different style of ambition to what a lot of clubs have applied, but I hoenstly believe it's the way to go.

Can i just ask .... how strong are Finn harps links with junior clubs in the area, are they all generally supportive and those clubs players would apsire to playing for Harps ??

**CollegeTillIDie** · 22/02/2006, 7:10 AM

Fair play to Harps for balancing the books... bigger clubs please note

**Mr A** · 22/02/2006, 8:19 AM

Can i just ask .... how strong are Finn harps links with junior clubs in the area, are they all generally supportive and those clubs players would apsire to playing for Harps ??

Not as good as they should be. Some USL clubs still resent us for getting the league spot in the first place, and down the years Harps have taken a lot of players, which causes resentment when not done properly. However, things are definately improving, even if there's a long way to go. Many of the kids in the area do aspire to playing senior football, be it for Harps or Derry (who get depressingly many players from the North of Donegal). This close season has seen a bit of a merry-go-round between our U21 squads! Harps have allocatated money towards the foundation of a youth academy in this years budget, which will hopefully improve relations with junior and intermediate clubs (after all, the players who don't make it to senior level should still become better footballers, helping their clubs). The dual registration idea was one of the few really good ideas that Genisis contained and will hopefully be implemented sooner rather than later.

**The Ball Boy** · 22/02/2006, 10:35 AM

Originally Posted by pete

I think its called creative accounting

Pete, how do you make this out? These are certified audited accounts. Harps deserve credit for what they are doing & when the debt is paid off (12-18 months) they will free up a great deal of revenue to invest on the pitch. Other clubs should sit up & take note.

**Strabane_Harp** · 22/02/2006, 10:46 AM

If harps had followed other teams lead and matched their wage budget and the likes last season im sure we could have stayed up.

Harps have learned their lesson, no more short term aims, we are in senior football for the long run and that means being responsible with the budget

our gate receipts only incresed €40,000 last season and we spent €80,000 on ground improvements yet still pulled a profit

no creative accounting, simply responsible budget management

**NY Hoop** · 22/02/2006, 2:00 PM

Originally Posted by The Ball Boy

Pete, how do you make this out? These are certified audited accounts. Harps deserve credit for what they are doing & when the debt is paid off (12-18 months) they will free up a great deal of revenue to invest on the pitch. Other clubs should sit up & take note.

Pete works with glue. Take no notice.

KOH