herald

Tuesday 21 August 2018

Accounts for last year's champions St Patrick's Athletic suggested that the club is heavily dependant on the support of its ultimate owner, developer Garrett Kelleher.

Accounts for last year's champions St Patrick's Athletic suggested that the club is heavily dependant on the support of its ultimate owner, developer Garrett Kelleher.

By November 2013 Newtonheath Company Limited, which runs the club, had net liabilities of €3.4m.

It is wholly-owned by Mancar Limited, which is in turn ultimately controlled by Garrett Kelleher.

Mancar was owed just over €4m in interest free loans, but the company said it would not seek repayment in the year.

"Garrett is very committed to the club. I speak with him every few days and he has the best interests of the club at heart," a spokesman said.

"He is of the belief that we have the talent within the players and the staff to qualify for the group stages of European competition," he added.

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