Maurice Regan: The New York Millionaire’s Return to Kerry
Maurice Regan, CEO of MT Magen, utilized high-profile New York connections to fund the Kerry GAA Centre of Excellence at Currans during a period of financial instability for the organization. According to Regan, the effort involved hosting fundraising events at the Plaza and Waldorf Astoria hotels to secure capital after the “Celtic Tiger” economic collapse left Kerry GAA in a parlous financial state.
How did New York business leaders fund the Kerry GAA Centre of Excellence?
Regan acted as a financial bridge between Manhattan corporate interests and the development site in Currans, near Farranfore. He recalls a pivotal meeting at his corporate headquarters where Kerry GAA chairman Patrick O’Sullivan and All-Ireland winner Eoin “Bomber” Liston presented the funding needs for the facility.
To raise the necessary capital, Regan and Kerry GAA organized high-end events at the Plaza Hotel and the Waldorf Astoria. Guests paid for the privilege of a steak dinner to provide a stake in the future of Kerry’s GAA, with Regan noting that the yield helped the Currans project feel “less like a yoke.”
Why was Kerry GAA seeking international funding?
Despite winning an All-Ireland in 2014, the organization faced severe financial pressure a decade ago. Regan stated that the project was under stress because the Celtic Tiger economy had vanished and Ireland had not yet recovered.
Local fundraising efforts in Ireland were insufficient for a project of this scale. Regan observed that while home events might raise 20,000 to 30,000 euros on a good night, the organization needed significantly larger sums to complete the Centre of Excellence.
How has the fundraising strategy evolved in New York?
Regan has shifted away from large corporate events to avoid requests from unrelated charities and to ensure support remains close to the heart. He notes that some corporate donors, such as Italian construction companies, may not have fully understood the cause they were supporting.
Current efforts now target smaller, more intimate fundraising circles. Regan and his company currently support approximately 10 clubs within New York and a new centre for underage players.
What is the current state of inter-county GAA costs?
Regan describes modern inter-county costs as a “runaway train with no steering or brakes.” He indicates that high-level discussions regarding the capping of annual spends are currently gaining traction to manage these escalating expenses.
While supporters like Regan and London-based developer Gerry Rochford continue to provide aid, Regan warns that New York cannot remain the “lower hanging fruit” for cash-strapped counties. He suggests that because other counties have now adopted the New York fundraising model, the strategy may become less effective over time.
Frequently Asked Questions
Who led the fundraising efforts for Kerry GAA in New York?
Maurice Regan, the CEO of MT Magen and a native of north Kerry, served as a key bridge for fundraising efforts in Manhattan.
Where is the Kerry GAA Centre of Excellence located?
The facility is located at Currans, near Farranfore.
Which New York venues were used for the major fundraising events?
Fundraising events were held at the Plaza Hotel on Central Park and the Waldorf Astoria.
Do you think international fundraising is the only way for regional sports organizations to maintain world-class facilities?