Ed Sheeran gigs deliver major financial boost to Limerick's Thomond Park

INCOME from Ed Sheeran's two gigs at Thomond Park last summer helped to almost triple revenues at the company which operates the stadium.

Thomond Park hosted two Ed Sheeran gigs last May and new accounts for Thomond Park Stadium Co DAC show the business received €320,908 in ‘public event income’ in 2022 while hospitality and catering income soared.

The company's total revenues during 2022 were €1.52m - up from €650,342 in 2021.

Separate figures from trade industry journal Pollstar show that the two gigs generated $5.19m at the box office after selling 61,780 tickets.

Commenting on the figures, Thomond Park Stadium Director, John Cantwell said: “We are very happy with the financial performance of the stadium for the year 2021/22, as it was important to bounce back from the negative impact on business caused by the Covid pandemic during the previous two years. The positive performance was definitely boosted by the welcome return of major concert business to the stadium."

Mr Cantwell added: “The Ed Sheeran concerts in 2022 not only generated an important revenue stream but also reinforced the reputation of the stadium as a superb venue for music events. The stadium is performing well again during the current year and will benefit from the three Dermot Kennedy concerts in July. This concert business allied to the consistently strong attendances at the Munster Rugby games deliver significant economic benefits to Limerick and the Mid-West Region.”

The figures show Thomond Park Stadium Co DAC's revenue in 2022 included €643,960 in licence fee income (from the Munster branch of the IRFU), €384,177 in rights income, €112,392 in hospitality and catering income, €44,409 in rental income, €15,333 in bar income and €320,908 in the public events income.

BREAKING: Special guests announced for Dermot Kennedy's Limerick gigs

The firm narrowed its pre-tax losses by 27.5% from €1.1m to €800,191 in the 12 months to the end of July last and the pre-tax losses take account of non-cash depreciation costs of €1.045m.

The directors state that they are pleased with the success of the events hosted to date and the related stadium revenues.

The firm received a capital contribution of €1m last year and €468,575 in the prior year. The €1m capital contribution last year consisted of €980,867 from the Munster branch of the IRFU and €31,427 from the IRFU.

The amount owed by Thomond Park Stadium Co DAC to the Munster branch totalled €24.05m at the end of July last.

The firm received €27,374 in Government wage subsidy scheme payments during 2022 compared to €109,578 under the same heading in 2021.