Conor McGregor property firm sees increase in accumulated losses

An Bord Pleanála refused planning permission for Drimnagh apartment project

Accumulated losses at mixed martial arts fighter Conor McGregor’s property development firm, Emrajare Ltd, increased by €1.83 million to €5.66 million last year. Photograph: Stuart C Wilson/Getty Images)
Accumulated losses at mixed martial arts fighter Conor McGregor’s property development firm, Emrajare Ltd, increased by €1.83 million to €5.66 million last year. Photograph: Stuart C Wilson/Getty Images)

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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Gordon Deegan

Gordon Deegan

Gordon Deegan is a contributor to The Irish Times