Dundalk have posted significant losses for 2018, the year they regained their League of Ireland crown.
Financial issues are rarely far from the door in Irish football theses days and these figures suggest that no club is immune. The Champions reported a loss of €676,000 for the year ending November 30th 2018.
Due to the nature of the abridged accounts filed, it is unclear whether payments form UEFA and the FAI had all been received, in the timeframe, but the losses are significantly more than the €90,000 for 2017.
The club reported a healthy cash balance of over €2 million, despite the losses. The total reported income is slightly down but it is unclear as is whether Dundalk had received all of the €500, 000 for the club's run in the previous year's Europa League.
Dundalk's payment for the season's competition will be down from the €580,000 they were paid from the previous year.
Good News
The good news is there will be €1.2 million on the way to the Oriel Park club following the appearance in this year's Champions League qualifying.
The cost of administration is a significant driver of the loss, up over €640,000 on 2017, while total revenue was slightly down.
Player bonuses were down but management and coaching bonuses almost doubled as Dundalk regained their title from Shamrock Rovers.
While the headline loss will dishearten some Dundalk fans, especially in a week where Limerick have gone out of business and the FAI are mired in financial controversy, the outlook is good for the champions, with signifacnt income en route.
The 2019 accounts will show another new player on the books too as the Lilywhites announced the signing of Ireland Under-21 International Darragh Leahy from Bohemians.
Leahy said to the Irish Times: “It’s a very proud moment for me to sign for Dundalk, though. I am delighted to get things done and it was good to get everything over the line. I just can’t wait to get started and looking forward to being here.
“I just want to keep winning here. I want to win trophies. We have a big year ahead of us and the Champions League to look forward to. It’s going to an exciting year and I am looking forward to competing.”
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