Yes really. We've had two overseas coaches and plenty of overseas assistants over the last few years and we have achieved f-ck all. Now we have no money and have to appoint from within the province and we may have stumbled on the golden key. Munster is strongest with having the right blend of home grown and overseas talent available and that means having mostly Munster or at least Irish people in the coaching positions. All we are really short of now is a centre and we should looking in NZ to get one. Then the circle will be complete.
Next year you'll be able to replenish any water losses in the Atlantic when you see what we have in store.
It is a man's own mind, not his enemy or foe, that lures him to evil ways.
Rooster wrote:
Wonder how it will fit in with IRFU plans if they return to Munnerball ?
Is that the plan to have all three main provinces this season put on mostly dire displays of rugby while the Ireland team then goes and wins the 6N. I suppose they could be worried about one of the teams raising the standard alright....
It is a man's own mind, not his enemy or foe, that lures him to evil ways.
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.
Am I missing something here, Munster instead of paying 3 million Euros over the next 3 years will pay 1.5 million over the next 15 years, they will also receive 1million euros and are redeveloping a 2nd stadium when they can't fill Thomond and by the looks of it their ST's are down again.....strange
Last edited by scrum5 on Tue Jun 10, 2014 6:47 pm, edited 1 time in total.
In memory of Nevin Spence 1990- 15th Sept. 2012
Axel..... 30 October 1973 - 16 October 2016
Pedrie Wannenburg. 2 January 1981 - 22 April 2022.
Yes really. We've had two overseas coaches and plenty of overseas assistants over the last few years and we have achieved f-ck all. Now we have no money and have to appoint from within the province and we may have stumbled on the golden key. Munster is strongest with having the right blend of home grown and overseas talent available and that means having mostly Munster or at least Irish people in the coaching positions. All we are really short of now is a centre and we should looking in NZ to get one. Then the circle will be complete.
Next year you'll be able to replenish any water losses in the Atlantic when you see what we have in store.
Shame Connacht got in first for Mr Aki, seems decent enough, certainly by the standards for what ye have had the last few seasons since the golden age of Rua Tipoki & big tough Trevor Halstead plus Rags Kelly and a few more rather than that spanner Mafi, yon waste of bone & tissue you got from Caaaaaaaaaaaadiff & of course thon big eeejit who could best be described as "the poverty stricken man's Trevor Halstead"
Tipoki was a wonderful player & Halstead very very underrated.
Anyway Shan, you don't appear to be in feckin' meltdown like us Nordiebastards, I wish Axle & Co al the best, pretty shyte group like ourselves but then if you can't finish top two in our league you deserve nothing better.
NEVER MOVE ON. Years on, I cannot ever watch Ireland with anything but indifference, I continue to wish for the imminent death of Donal Spring, the FIRFUC's executioner of Wee Paddy & Wee Stu, and I hate the FIRFUCs with undiminished passion.
Am I missing something here, Munster instead of paying 3 million Euros over the next 3 years will pay 1.5 million over the next 15 years, they will also receive 1million euros and are redeveloping a 2nd stadium when they can't fill Thomond and by the looks of it their ST's are down again.....strange
Welcome to free state economics Scrum. We are masters of restructuring debt. Except where we usually restructure it to pay three times as much over 25 years longer this time we've just managed to make some of it disappear. Thomond showing again it truly is a magical place.
The stadium situation is a joke. It is a real Munster issue with our two centres. In any normal world the only and large stadium would be in Cork which has 4 times Limerick's population and only about 150k less than Belfast when we are talking metropolitan area. But it isn't a normal world down here because for all Cork's whinging they'd still struggle to get as many people to the games as Limerick can manage.
To be honest now that Musgrave is being renamed as Irish Independent Park I feel a bit perturbed. I don't mind stadium name changes as they are a commercial reality of our new world but FFS having that dirty rag associated with it is quite a sickener.
It is a man's own mind, not his enemy or foe, that lures him to evil ways.
BaggyTrousers wrote:
Shame Connacht got in first for Mr Aki, seems decent enough, certainly by the standards for what ye have had the last few seasons since the golden age of Rua Tipoki & big tough Trevor Halstead plus Rags Kelly and a few more rather than that spanner Mafi, yon waste of bone & tissue you got from Caaaaaaaaaaaadiff & of course thon big eeejit who could best be described as "the poverty stricken man's Trevor Halstead"
Tipoki was a wonderful player & Halstead very very underrated.
Anyway Shan, you don't appear to be in feckin' meltdown like us Nordiebastards, I wish Axle & Co al the best, pretty shyte group like ourselves but then if you can't finish top two in our league you deserve nothing better.
You are spot on about Tipoki and Halstead Baggy. I'd give extra dollars now even to have one of them.
Overall I am not going to worry until there's something to really worry about....and right now despite it looking not as rosy as you would like we are not in a place without hope.
Either way the world will still turn tomorrow anyway.
It is a man's own mind, not his enemy or foe, that lures him to evil ways.
Quite an entertaining game at the moment against Edinburgh but what really strikes me is the absence of supporters. There has been a good amount of complaining on their site about the difficulty supporters from outside limerick will have to get to Friday night matches and if tonight's attendance is going to be typical the repayment schedule for Thomond Park might need a bit of renegotiation.
Dave wrote:Munster almost won it. Not the strongest of Munster sides. Zebo must have huge stats for meters run but most of them were going sideways.
It would have been a travesty if they had won. They were down a player for 20 mins pf the match (2 x Yellows) and still remained competitive. Munster were poor and even at this early stage I'm more hopeful for our visit down there.
