• Headlines
  • Listen Live
  • About
  • Advertise
Scoreline.ie
  • GAA
  • Camogie
  • Soccer
  • Rugby
  • Podcasts
  • Other Sports
No Result
View All Result
KCLR
Scoreline.ie
No Result
View All Result
Scoreline.ie
No Result
View All Result
ADVERTISEMENT

The FAI’s AGM highlights the worrying financial position that has plagued the organisation since John Delaney’s inglorious departure

The FAI is currently repaying a loan to Sports Direct.

Robbie Dowling by Robbie Dowling
Wednesday 30 December, 2020
in Soccer
Reading Time: 2 mins read
FAI logo (Mock up)

FAI logo (Mock up)

Share on FacebookShare on Twitter

The Football Association of Ireland’s current financial state has come under the spotlight once again following their Annual General Meeting.

The stand-out piece of information from the meeting is that the FAI will be paying Sports Direct €100,000 a month until October of 2025. This is the case as the association entered into a sponsorship agreement with the sportswear manufacturer in 2018 and requested a pre-payment of €6.5 million as part of the deal. John Delaney was CEO of the FAI at the time of the agreement.

Following Delaney’s departure in 2019, Sports Direct immediately ended the agreement and the FAI entered into a deal to repay the loan in monthly repayments of €100,000. This news will add to the level of derision and disdain around the handling of the organisation’s finances during the Delaney years.

It was not all bad news for Irish football supporters, however. Auditors Grant Thornton approved the accounts for 2019 on a going concern basis, meaning that the organisation is expected to be in existence in the coming years. This was not the case in 2018, when former auditors Deloitte did not approve the accounts on a going concern basis.

Chairperson Roy Barrett was cautiously optimistic following the AGM, stating that he believes that the FAI “are out of the woods.”

The 2019 accounts of the FAI paint a far brighter picture for the association than the 2018 accounts. They have allowed the FAI to forecast a positive cash flow by 2023, which is a significant step forward. However, the 2020 accounts will almost certainly be impacted by the coronavirus pandemic with gate receipts being almost entirely wiped out. They amounted to €11 million worth of revenue for the FAI in 2018.

While there is still existing debt on the Aviva Stadium and a €4 million payment to UEFA due in the coming years, the AGM held on Tuesday highlighted the improvement in the organisation’s finances in 2019 and leaves football in this country in a far more sustainable position than it was in the not too recent past.

 

 

Latest podcast from Scoreline.ie

Follow for free on Apple Podcasts or Spotify

Latest Updates

‘They don’t lack in any area’ – Paul Murphy on Kilkenny’s hopes for 2023
Hurling

‘They don’t lack in any area’ – Paul Murphy on Kilkenny’s hopes for 2023

by Robbie Dowling
28th January 2023
0

The serious business starts for Kilkenny next weekend. Following three Walsh Cup games that brought with it victories over Offaly...

Read more

Carlow’s Allianz National Football League games: Who and when will Niall Carew’s side be playing?

Live football: Carlow v Wicklow, National Football League Division 4 Round 1

Niall Carew names Carlow team to face Wicklow

2pm for the hurlers, 4pm for the footballers as Carlow fans set to be torn for next weekend’s league games

Latest Podcasts

Hurling

Scoreline Extra #111: Carlow postmatch, Kilkenny legends Paul Murphy & Anne Dalton, Irish international Ellen Molloy & lots more

29th January 2023
Big Game Live

Big Game Live: Listen back to Carlow’s football league-opening draw with Wicklow Netwatch Cullen Park

28th January 2023
Podcast

The Knock On Season 2 E18: J1 bragging rights for Tullow over Carlow, Kilkenny drop down the table, Towns Cup draws, Womens & Youths rugby and more

27th January 2023
Full Time

Full Time #68: Kilkenny’s Walsh Cup exit, Ballyhale Shamrocks success, Carlow’s Kehoe Cup finale and more

24th January 2023
Scoreline.ie

Scoreline is KCLR's sports brand, bringing you the latest sporting news from Kilkenny, Carlow and around the country.

Listen live on-air and online weekends from 2pm.

Follow us on social media:

Show Times

  • Monday 6.10pm
  • Friday 6.10pm
  • Weekends 2-6pm

Podcasts

  • Podcasts Home
  • Camán Caint
  • The Football Manager Football Show
  • The Clash Act
  • All Things MMA

Contact Scoreline.ie

KCLR Sport
Leggettsrath Business Park
Carlow Road
Kilkenny R95 YTD5

E: [email protected]
T: 1800 909696

© 2023 KCLR · All rights reserved

No Result
View All Result
  • GAA
  • Camogie
  • Soccer
  • Rugby
  • Podcasts
  • Other Sports

© 2023 KCLR · All rights reserved