John Treacy tells Pádraig Ó Céidigh TD that the FAI is currently being funding by UEFA, but that is money being loaned to them. Mr. Ó Céidigh says that could cause a serious going concern – could be cashflow concerns. Mr Treacy says yes, FAI will most likely need a UEFA BAILOUT
— Evanne Ní Chuilinn (@EvanneNiC) July 17, 2019
A European bailout?
Aw ref.
Sport Ireland has ‘no difficulty’ with minister’s statement on FAI president (RTÉ)
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Is this the same FAI which has €50m a year annual income, of which only around €3m comes from the government (via the politically independent Sport Ireland led by John Treacy which is supposed to divvy up the €60m of annual sports grants between the various sporting organisations).
How on earth does the FAI need a bailout? The govt gave them half of the planned 2019 grant in the first three months of the year and that total grant is only worth €3m for the full year and that grant comes into the FAI and goes out to local clubs. In other words, it surely isn’t the withholding of the grant that’s causing the financial problems.
Maybe it was the €400,000 CEO salary, the unvouched credit card expenses, the rental of the des res? Sounds like another organisation that needs to cut its cloth according to its means.
Why is there not a formal investigation into this association and why did John Delaney
jump ship, in other words who is running the outfit and if UEFA are now baling them
out, is there anyone from the UEFA that can enlighten the grass roots of the FAI whats
the state of their finances and where did money go under the tenure of Delaney and
who decided Delaney’s rather huge salary in the first place.
That is a load of ……………
eh
scaremongering
No way do the FAI need a bailout
And Tracey is not qualified to say so
This is disgraceful overreach
I hope the members and the fans have something to say about this
Also Grant Thornton
effin’ Tracey and Ross are deliberately undermining the organisation
and the work of Grant Thornton to indentify the issues, breaches, and make recommendations
Let the organisation elect their Board
Independently of this attempt at influence
Work on a new Strategic Plan
and turn the FAI around
Utterly disgraceful
If its fingers they want to point
Point them at Deloittes
If its a5555 they want to kick around
Kick Deloittes
Also, it was John Treacy’s Sport Ireland which decided to release the grant to the FAI a fortnight after the first reports in the Sunday Times which revealed there were financial issues at the FAI. What has John Treacy to say about this? He was seemingly happy to hand over our money in March even though there were issues at the FAI.
But, put yourself in John Treacy’s shoes Vanessa, you’re being paid €5m a year to divvy out €60m of sports grants with everyone licking your behind as if you were God Almighty. Would you rock the boat by taking a contrary view to that expressed by the Minister who originates the €60m and who pays your salary and gives you a total dream job?
Treacy is hardly getting €5m a year, sure there’s plumbers not even earning that.
I don’t know how much Treacy is getting paid himself, but the Sports Ireland accounts show they have overall costs of €5m to administer sports grants of around €60m a year. Giving away 10s of millions is the best job in the world. Everyone is so damned nice to you. Frankly, we’d be better off if we cut out the €5m of middle-men at Sport Ireland and had a lottery for the grants. I mean who decides if boxing is a better sport than frisbee throwing.
Agree but would double down on the getting rid of them part. Sport Ireland’s board are a who’s who of tax sucking quango lifers. Especially Kieran Mulvey
They are currently being loaned millions by UEFA, hardly a ringing endorsement of the suggestion they definitely won’t need a bailout further down the line. SIPTU have already flagged potential job losses too. Its extremely naive to suggest this is all ego stroking and scaremongering and not at all entertain the idea that Delaney and Co have seriously mismanaged the organisation to date.
Why would ‘fans’ be objecting anyway? The FAI are a disgrace. Can’t even pay off a stadium that the IRFU will eventually own entirely, a faltering national league, a complete lack of, up until very recently, proper player pathways that didn’t involve shipping lads off to England early doors, again until recently zero joint up thinking throughout the ranks of international football. Just because Delaney could kiss arse at local clubs the country over with novelty checks doesn’t mean everything was rosey before Sport Ireland rocked up.
your defence of a shower who stood idly by as john Delaney ruled the fai and the fai chequebooks as his own personal fiefdom is baffling
Nuke the FAI. Start again.
Is there angthing left in this country that the state have a hand in that isn’t tainted with the smell of a scam of it.
No, it’s the fg way..
No, and the impending collapse of Deutsche Bank will see all EU Citizens taking a hit. Unlike the Irish banks when we took the complete hit (for the likes of Deutsche’s gambling), the landscape changed shortly afterwards so that one country wouldn’t take the complete hit (germany in this case). Nope, it’s spread across all member states.
Yes, folks, all EU citizens may (As baldy Noonan said) ‘sew up yer pockets’. And that includes you., even though you’re already paying off the Germans and French gamblers.
https://www.zerohedge.com/news/2019-07-16/bank-run-deutsche-bank-clients-are-pulling-1-billion-day
Nice Partridge headline
The proof is in the pudding, and the pudding, in this case, is football.