FAI hopes for borrowing boost as FIFA unveils relaunch fund

THE FAI will be able to borrow up to €4.5m interest-free from a new FIFA fund to help deal with the costs of relaunching football in Ireland after the Covid-19 lockdown, writes AIDAN FITZMAURICE.

And in a major boost for the cash-strapped association, they will also get a cash injection of a €890,000 grant from world football’s governing body, half of that grant due to come next month, with a separate grant of €445,000 set aside for the women’s game in Ireland.

FIFA have also cleared the way for national teams to play three international matches next October, to cope with the fixture backlog by extending the international calendar by one day, with Ireland now due to play their Euro 2020 play-off against Slovakia and two Nations

League games that month.

A one-off advance payment €3.4m was made by UEFA to all member nations last month to cope with the financial burden during the pandemic, but that was of no use to the FAI as the previous board had already drawn down the cash, in 2018, a huge frustration to the current board.

With their own resources depleted, the FAI – under interim CEO Gary Owens (above) – had been relying on a January deal with the Government to stay afloat while also hopeful of coaxing more cash from FIFA and the most immediate task, of sourcing the €3.3m needed to fund the restart of the 2020 SSE Airtricity League season, was a priority.

And FIFA’s Council yesterday agreed a package of measures to assist national associations like the FAI, to cope with the serious economic impact of Covid-19, with a total of $1.5billion made available.

They have promised a Covid-19 relief grant of €890,000 to all member nations in FIFA, half to be paid next month with the balance to be paid in January. The special payment of €445,000 set aside for women’s football will be paid next month.

National associations can also apply for an interest-free loan of up to €4.5m to help them get out of the crisis created by the pandemic, with those funds being used to meet the costs of football’s resumption at all levels, Covid-19 testing, costs attached to getting international teams back in action and, crucially, clubs and leagues can apply to access that fund.