A milestone says Shane Ross. Many reforms still to come. Bank, UEFA and Govt taking some pain. pic.twitter.com/f6a0kqv4TA
— Paul Colgan (@paulcolgan) January 30, 2020
Government has just confirmed it’ll help bail out the FAI.
One of the key points of the announcement: “this is definitely NOT a bailout”
Literally the next sentence: “here’s how much extra money the government will give the FAI” pic.twitter.com/c5jxFbdA3a
— Paul O'Donoghue (@paulodonoghue93) January 30, 2020
The Department of Transport, Tourism and Sport are reportedly set to reveal details of a “refinancing arrangement” for the FAI involving the Government, UEFA and the Bank of Ireland.
The football body, which has recently been the subject of a number of audits and investigations into its financial affairs, warned that it could not continue to pay the wages of over 200 staff if an immediate bailout of €18m was not forthcoming.
Previously: At The End Of The Day: €55,067,472