GAA bail out Mayo on MacHale Park debt
25 February 2015
MacHale Park Castlebar
The GAA has come to Mayo's financial rescue by agreeing to take over the bank loan for the redevelopment of MacHale Park.
Mayo find themselves in debt to the tune of €5million but under a new agreement they will pay the outstanding money to Croke Park at a lower interest rate.
Mayo chairperson Mike Connelly explained to The Mayo News: "In real terms, our repayments will now work out at approximately €33,000 per month, that's down around €15,000 per month from what we had been paying.
"The way we look at it, it's quite sizeable but manageable."
He added: "This deal is going to give us more money in the Mayo GAA kitty to do what needs to be done on the ground here in the county, plus our cash-flow will improve.
"We need to look after clubs. They are my number one priority. We will have a much clearer picture of what exactly we can do for them at the end of this year."