Accumulated losses at mixed martial arts (MMA) fighter Conor McGregor’s property development firm, Emrajare Ltd, increased by €1.83 million to €5.66 million last year.
In May of this year An Bord Pleanála delivered a blow to plans by the company to construct an eight-storey 113 unit apartment block in Mr McGregor’s home area of Drimnagh, Dublin 12.
The appeals board rejected the mixed-use scheme that would have involved the demolition of the Marble Arch pub that Mr McGregor purchased for a reported €1.5 million to €2 million three years ago.
Accounts for Emrajare Ltd show that 2023 was another loss-making year for the company as it continued to increase Mr McGregor’s property portfolio. The company was established in 2021.
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The accounts show that the post-tax losses of €1.83 million for 2023 followed losses of €2.17 million in 2022.
The activities of Emrajare are mainly financed by McGregor’s McGregor Sports & Entertainment Ltd with substantial loans.
A note attached to the accounts – approved by directors on October 30th – show Emrajare owed McGregor Sports & Entertainment Ltd €19.7 million at the end of December last.
The €19.7 million owed was a €4.69 million increase on the €15.03 million owed by Emrajare to McGregor Sports & Entertainment at the end of 2022.
The funding has allowed Emrajare build up a property portfolio with a book value of €22.8 million by last December.
This was an increase on the €21.46 million book value at the end of 2022 with “additions” of €1.36 million made during 2023.
At the end of December last the company owed €28.6 million to creditors, with €20.76 million owed to related parties and €7.85 million owed to “other creditors”.
The company’s cash funds reduced from €234,657 to €157,846.
The firm employed three people, made up of one director and two employees.
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