Knowing the Aviva score

Fri, Jul 6, 2012, 01:00

THE FAI’s accounts for 2011 give an insight into the trading of New Stadium Ltd, the company that has responsibility for running the Aviva Stadium in Ballsbridge. The FAI has a 50 per cent share in New Stadium and so provides details of its key trading figures in its annual financial statements.

The accounts indicate that the Aviva Stadium achieved turnover of €11.55 million in 2011 compared with €4.4 million in 2010, when it was only open for in effect half the year. Its operating loss narrowed to €1.15 million last year from €6.31 million in 2010.

New Stadium closed the period with a loss after tax of €2.42 million compared with a deficit in 2010 of €7.16 million. Its fixed assets declined slightly to €390 million, while its net assets amounted to €61.6 million.

The FAI made “contributions and loans” last year of €1.56 million to New Stadium in relation to the construction of the stadium, according to the accounts. It was charged €3.98 million by New Stadium for the use of the stadium and “ancillary usage costs”.

Last year was the first full year of trading for the stadium, having been officially opened in May 2010 by then taoiseach Brian Cowen.

It proved to be busy on the soccer front. The stadium hosted, among others, the Uefa Europa League final between Portuguese sides Porto and Braga, the Carling Nations Cup matches involving the Republic, Scotland, Northern Ireland and Wales, and our Euro 2012 play-off with Estonia, which secured qualification for the recent finals tournament.