Cork County Board owes €1.2m to Central Council arising from a Páirc Uí Chaoimh cash flow problem dating back to 2017.
At tonight’s Cork County Board meeting, secretary Kevin O’Donovan informed delegates that the executive has agreed repayments to Central Council for money that should have been handed over three years ago.
Prior to Croke Park stepping in and taking over the running of Páirc Uí Chaoimh, a cash flow issue arose which led to €1.2m of Cork County Board money, owed to Central Council, being redirected towards the stadium redevelopment.
The stadium, such is its troubled financial position, has not been able to repay the money to the county board. And so while the board will now meet its outstanding debt to Central Council, there is no timeline as to when the board will be reimbursed by Páirc Uí Chaoimh.
“In 2017, a cash flow issue arose in relation to the construction costs of the stadium, [this was] prior to our later funding agreement with Croke Park which is called the framework agreement. €1.2m of county board payments due to Central Council were used as a cash flow measure, with the agreement of Croke Park,” O’Donovan revealed.
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