Delaney reveals FAI debt dilemma
FAI CEO John Delaney (right) has claimed that the association’s board will decide early next year whether to press on with plans to be debt-free by 2020 or stay in the red and invest in the game.
The borrowings from the FAI’s commitment to the Aviva Stadium have impacted the sport here over the past decade but Delaney insists the balance can be cleared in the next three years.
He was speaking in Kilkenny, where this year’s AGM will take place in July, and Delaney says the 2016 accounts will show that bank debt stands at €34m.
That is a small reduction from 12 months ago – a figure of €34.75m was offered at that juncture – with an overdraft figure in the region of €5m added to that. Details of the overdraft position at the end of 2016 will become clearer when the final accounts are released.
Delaney says the FAI’s board will have to contemplate their options and admits that Ireland’s attempt to qualify for the World Cup could influence their choice.
“The decision the association will make, and I think it will probably be the first quarter of next year, is will we bring the debt down to zero or will we use the funds to further develop the game,” said Delaney.
“Particularly after we know whether we qualify for the World Cup, and where we are in certain other sponsorships and naming rights (for the Aviva Stadium).
“So it is still well within our compass. I think we have demonstrated from the past when it was €70m, we brought it down to €34m, and we could certainly bring it (to zero) if we wish to, or the view might be to put the funds directly into the game and retain some debt.”
Delaney did not commit to raising League of Ireland prizemoney – a contentious topic – stating that the FAI will wait until all 20 clubs present a strategic plan before making any plans. He wants government support for the next step.
Delaney cited the Dublin City Council’s commitment to Dalymount Park as an example – although he says the target for the completion of renovations at Irish football’s spiritual home is now 2021.