The Irish offshoot of Ronaldo’s “Superagent” pays a dividend of 20 million euros

The pre-tax profit of the Irish branch of football super agency Gestifute, which represents football superstar Cristiano Ronaldo, fell slightly last year to 25.04 million euros

New accounts filed by Gestifute International Ltd show that the slight decline in pre-tax profit was sustained despite an increase in sales of €654,454 or 2 per cent from €29.38m to €30.03m.

The company paid a dividend of €20 million last year, followed by a dividend of €20 million in 2020.

Founded by agent Jorge Mendes, Gestifute is currently looking for a new club for Ronaldo after the Portuguese star’s public falling out with Manchester United.

The Irish company’s main activity is the provision of consulting and marketing services to professional athletes and sports organisations.

The directors state that the main business risk is that clients may switch to other consulting providers.

Cash generated by the company from operations before paying taxes totaled €30.5 million last year, up 62 percent from the €18.8 million generated by the company in 2020.

Forbes recently estimated Ronaldo’s 2022 earnings at around $115 million, making him the third-highest sports earner in the world.

In February last year, Ronaldo became the first person in the world to reach 500 million followers on Facebook, Instagram and Twitter.

The Irish company has its registered office at One George’s Quay Plaza, George’s Quay, Dublin 2 and the directors state that the company intends to continue with its current activities and level of trading.

Regarding the company’s going concern status, a statement said that the best information available shows that there are no material uncertainties regarding the company’s ability to meet its liabilities as they come due and to continue as a going concern.

Gestifute International Ltd had profits of £46.75m at the end of 2021.

The accounts show that the Irish company’s tax bill for the year totaled €3.16 million and the company reported a profit after tax of €21.8 million.

One of Gestifute’s directors is Andy Quinn and a note accompanying the accounts shows that in 2021 €12,917 was billed from Andrew P. Quinn and Associates where Andy Quinn is a director.

The company employed eight people, including three directors and five in administration.

Directors’ salaries totaled €244,342 last year.

https://www.independent.ie/business/irish/irish-branch-of-ronaldos-super-agent-pays-out-20m-dividend-42183737.html The Irish offshoot of Ronaldo’s “Superagent” pays a dividend of 20 million euros

Fry Electronics Team

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