05 October 2005
’Slagging made me pay up’ - Murphy
Roscommon GAA benefactor John Murphy has revealed that being on the receiving end of jibes about Roscommon’s poor performances convinced him to bail the county board out with a one million euros in interest-free loan.
The self-made millionaire said that being slagged about his native county’s problems from people all around the county persuaded him to make his donation.
"People know I am a GAA man so they would mention Roscommon to me.
"I decided recently after talking to Eamon Campion who is a GAA official in the county, that I would do something to help out.
"I met with county secretary Frank Denneny and acting chairman Michael McGuire, and I was impressed with them.
"There are no strings attached to my loan - except that I will get the one million back in seven years.
“Central Council of the GAA have guaranteed that.”
07 January 2010
Roscommon seeks more time to repay EUR1m loan
Roscommon county board officials are to ask Croke Park for more time to repay a EUR1 million loan to a local businessman who saved them from financial ruin almost five years ago.
Croke Park guaranteed the massive interest-free loan which was given by Castlerea man John Murphy in 2005 and which must be repaid by 2012.
Roscommon established a fund to repay the money to Croke Park and while over EUR200,000 has been paid into an account and the loan repayment is not due for another two years, cash-strapped county board chiefs are looking for an extension of time of 10 to 15 years to reimburse GAA top brass.
They want Croke Park to repay the loan in full in 2012 and allow them more time to reimburse the GAA hierarchy.
Roscommon chairman Michael McGuire told the recent county convention that the issue was being addressed now because it was clear that they would not have the full amount in October 2012 when the loan is due to be repaid in full.
Quoted in the Irish Examiner, McGuire said: “It is good financial management to address this now and we understand Croke Park will respond in a positive manner to our request.”
Confirming that discussions are currently taking place with Croke Park, Roscommon county board auditor Sean Mulhern said: "A sinking fund account was set up in 2006 in order to meet the repayment on the John Murphy loan.
“To date, EUR203,746 has been lodged to the Croke Park deposit account for this purpose.”
