That figure doesn't include losses incurred by clubs.
The G-A-A today has reported a deficit at national level of 34.1 million euro after 2020 revenue was badly hit by the Covid-19 pandemic.
The loss at central level is 27.1 million euro with an additional 7 million euro deficits at county and provincial level.
The figure - revealed in the association’s annual finance report today - does not include any potential losses incurred by clubs.
The GAA's revenue fell last year by almost 60 per cent from €73.9 million down to €31.4 million.
Speaking about the figures on the GAA's announcement, Ard Stiúrthóir, Tom Ryan says:
“There's provision made in last year's budget for the sporting sector this year,”
“And we've already spoken to Sport Ireland and the Department, just about the principles of that.
“In fairness to them, highlighting to them, that we're not out of the woods yet, and we are going to be in the unfortunate position - and we don't like being in that position, we don't like having to rely on the public purse - we flagged with them already that this year is going to be challenging.
“And they know that anyway, I'm sure. In terms of the specifics, a lot of that will depend on what our seasons will look like, and the extent of what is available to us ourselves in terms of potential financial return.
“Those conversations in details haven't started yet, and there's no specific time-table in mind for them. We're in touch all the time with the Department and Sport Ireland, so it will come up.”
GAA’s Finance Director, Ger Mulryan, said the following:
“Despite the challenged financial position 2020 has presented and the hurdles we face again in 2021, our consolidated balance sheet at central level is strong and I am confident we will be fully capable of meeting the financial challenges presented, head-on,”
“Our auditors PWC have issued a clean audit opinion and as part of the audit, they have reviewed our going concern projections, cashflows and financial forecasts.
“While there are clouds overhead today it is with a confident note that I can assure our members that the Association enters the coming year in reasonable financial health and with a positive outlook. Our collective financial strength, knowledge and expertise is due as always to the tireless dedication of our thousands of club and county treasurers nationwide.
“Their role is a difficult but extremely valued one. The Association is also indebted to the members of the Financial Management Committee, the Audit & Risk Committee and the Insurance & Risk Committee for their ongoing commitment, hard work, insight, and expertise."
The #GAA has reported a deficit at national level of €34.1M after 2020 revenue was badly hit by the Covid-19 pandemic.— The GAA (@officialgaa) February 16, 2021