Oireachtas Joint and Select Committees

Wednesday, 29 June 2022

Joint Committee on Tourism, Culture, Arts, Sport And Media

Social Outcome Contracts in Irish Sport: Discussion

Mr. Liam McGroarty:

I can start and then Ms Mortell can come in as well. It is a very good question regarding the ethics of private investors making money on disadvantage. The positive is that, without that private investment, it would be the status quo. People would not get advantage. They would not get the benefit. I mentioned a little earlier too that there is a blended format. It is not just private equity investors looking for their return. Many of the investors are social investors who genuinely care about the outcomes, and there is philanthropic funding as well. There is a mixture of funding. At the end of the day, because new money is being offered for new outcomes for people who currently do not get those outcomes through the sports sector, you will have an easier conscience with the private investor making a bit of money.

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