Waterford GAA are 'extremely grateful' to the Munster Council who have come up trumps to the tune of €500,000.

The provincial body announced the Deise cash injection on Tuesday night as part of their five-year budgetary framework unveiled in January.

The Examiner reports that Waterford County Board currently owe €463,000 on an AIB loan and €250,000 will service this debt.

€150,000 has been earmarked for day-to-day costs, while the remaining €100,000 is ring-fenced for future capital development.

"We could not operate as we were operating before and what this €150,000 means is that when the senior hurling and football teams send in their bills at the end of the month, that we will be able to pay them," Chairman Paddy Joe Ryan remarked.

"We found it hard at times to pay for things such as meals, hotels and buses because we didn't have the cash flow.

"The majority of our income comes from gate receipts but most of the club championship games don't take place until the summer. The only cash flow coming into the county board at present is sponsorship.

"Munster Council are front-loading us with €150,000 so we can pay for stuff now that we would have once put on the long finger or just couldn't afford to pay or didn't have an overdraft for.

"We are extremely grateful to the Munster Council."

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