FAI Debts Falling as Financial Figures Revealed

The FAI held a special briefing yesterday outlining some of the financial figures behind the Association’s last 12 months.

The Full Annual report will be published at the AGM in Cork next month but we now know that turnover during the last season was level on the previous year at €49 million and that there was a retained surplus of €2.8 million, up by around €500,000 on the previous year.

Interest charges have reduced dramatically after the long-term debt on the Aviva Stadium was transferred to Bank of Ireland. This was down to €1.6 million having been €5.1 million and €4.7 million over the previous two years.

The amount of that debt has reduced significantly with money from a renewal of the Aviva sponsorship of the stadium being used at least in part to bring it down by €8 million to under €30 million.

CEO John Delaney said that a decision on whether the long-term debt would be cleared by 2020 or whether income would be used instead for investment in other areas would be made at a Board Meeting on 17th August and discussed at the AGM the following day.

The two other major sponsorship deals will also be coming up for renewal between now and 2020, with Three and New Balance, while the staging of four games in the Euro 2020 Championships in Dublin will open up many more opportunities.

Dublin is considered to be one of the leading ‘smaller cities’ in the staging of Euro 2020, behind Berlin and London, a fact evidenced by the draw for the finals and the UEFA Executive Committee meeting taking place here in December.

While Delaney may have his critics, his ability to operate politically at the highest levels of the game undoubtedly yield many benefits for the sport here.

He did not take questions on the situation with the PFAI or with  SSE Airtricity League of Ireland clubs though with Bray and Limerick both moving into better positions, that was less contentious than it seemed it would be only weeks earlier.

He was able to reveal that a new stadium had been agreed for Drogheda and that plans were progressing for the redevelopment of Dalymount Park in Dublin.

 

Sign up today for our free daily news digest covering the commercial world of sport or discover the benefits of becoming a full member alongside the many leading organisations whom we serve.

Similar Articles