Accountant and FAI VP Paul Cooke (left in pics 1 and 2) and FAI President Donal Conway at the Football Association of Ireland Annual accounts publication for 2018 this afternoon.
WATCH: Press conference as the FAI publishes its accounts for 2018, after the loss of main sponsor 3 earlier this week and the announcement today that FAI President Donal Conway is to step down | Read more: https://t.co/FW0tDE2HII https://t.co/9zu5w77wGj
— RTÉ News (@rtenews) December 6, 2019
The FAI published their reports and financial statements for 2017 and 2018.
They have revealed that the organisation has net current liabilities of more than €55million and that former CEO John Delaney agreed a settlement with the organisation of €462,000.
The reports and statements for 2017 and 2018 can be read here
FAI President Donal Conway
Football Association of Ireland tweetz:
Donal Conway is to step down as President of the Football Association of Ireland at an EGM on January 25, 2020…
Former CEO of FAI John Delaney
The FAI has disclosed that the organisation has current net liabilities of more than €55m, following the release of their 2018 accounts.
The association has been in discussions with UEFA as well as their banking partners since the end of 2018 in an effort to provide financial stability within the organisation.
Presenting the 2018 accounts at the FAI headquarters, executive lead Paul Cooke explained how the association came to a severance settlement with former CEO John Delaney, which amounted to 462,000, including a pension payment.
The Football Association of Ireland is expected to publish its accounts for 2018, as well as revised figures for 2017 and 2016.
Details of former CEO John Delaney’s severance package are also expected to be among the figures.
They figures were supposed to be published yesterday but on Wednesday the FAI announced that they’d be published today instead.
Also on Wednesday, mobile phone firm Three announced that it will be ending its partnership with the FAI when their current deal expires next July.
Further to this…
The Irish Independent reports:
Irish football is being told to prepare for a “bomb” when the FAI’s accounts are presented today, with debts of over €50million expected to be revealed.
The association’s former CEO, Bernard O’Byrne, has warned that possible new sponsors will stay away from a “toxic” FAI until more changes are made at board level.
Previously: Three Mobile
FAI press conference pushed back to 1pm now. #FAIaccounts
— Mark Tighe (@marktigheST) December 6, 2019