Irish businessman Mickey O’Rourke’s investment company swung to a €2.4 million loss in the year before it bought back Premier Sports in the UK, which it sold in 2022.
TDL Media – through which the Setanta Sports founder holds his stake in Shelbourne FC – reported a 56 per cent slump in revenues in 2023 to €18.5 million from €42.8 million in 2022, newly filed consolidated accounts reveal.
In the directors’ report attached to the accounts, Mr O’Rourke, who is listed as a director along with his wife Gemma O’Rourke, said the drop in revenues related to the disposal of Premier Media Broadcasting Ltd and Freesports Ltd for €24.7 million in 2022 and the company had traded in line with expectations. TDL subsequently bought back the Premier Sports UK business from Viaplay in early 2024.
Accumulated profits of almost €14.3 million had built up at TDL Media by the end of 2023, according to the accounts.
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The latest figures cover the 12 months to the end of December 2023. Already a minority shareholder at the time, TDL Media acquired its majority stake in Shelbourne in November 2023 from Turkish billionaire Acun Ilicali, just five months after he took charge of the League of Ireland club.
Speaking to The Irish Times in October last year, Mr O’Rourke said that as a fan of the club, he felt “an obligation” to step in upon Mr Ilicali’s abrupt departure.
“I stepped away when the Turkish lad got involved, and then suddenly I had to get involved at very short notice. You don’t make money in the League of Ireland. Arguably, you don’t make money in football, but you certainly don’t make money in the League of Ireland.”
The directors also said that TDL Media had invested in the Joe Media Group in the year. Mr O’Rourke first invested in the online news and lifestyle publisher in 2020 after UK investor David Sefton’s Linton Capital bought the group out of examinership through its subsidiary, Greencastle Acquisition.
Mr O’Rourke has been approached for comment.
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Last year, TDL Media also acquired a majority in UK-based Finest Brands Holdings Ltd, manufacturer of the Champion, Toggi and ProLine Sports ranges of protective clothing and equipment.
Former Irish jockey Ruby Walsh, a record breaker who won two Cheltenham Gold Cups and two Aintree Grand Nationals, is a brand ambassador for the range.
TDL invests predominantly in media, sports and technology, buying either majority or minority holdings in the businesses it backs. Its investments also include women’s sports channel W Sport and ice hockey team Glasgow Clan and it has minority stakes in ticketing software developer Future Ticketing, and alternative financier Finance Fair.
