FAI FACES ’MAKE OR BREAK TIME’

THE Government has run out of patience with the FAI and the troubled association could still fold.

That was the stark warning issued by interim FAI chief executive Gary Owens last night ahead of a make-or-break three weeks.

At an August 31 EGM, the FAI needs two-thirds of its 79 Council members to pass reform measures outlined in January’s Government bailout.

But that controversial memorandum of understanding (MOU) is divisive, not least the demand that 50% of the board is made up of independents.

Council members who are worried about the direction the ‘new’ FAI is taking have called an emergency meeting this Friday.

But €36million in funding is dependent on governance reforms being adopted - otherwise the association’s finances will dry up.

Asked if he felt the Government would allow the FAI to fold, Owens said: “I don’t think they have any further patience in relation to supporting the FAI.

“If you look at their conditions, they are not unreasonable. The people lending us the money are determining the conditions which they’ll lend to us.

“We were in an exceptional position because there was chaos and hysteria. For people to lend us that money, there is a condition attached to it.

“We either agree to it or we don’t. There weren’t a lot of places to go, other than Bank of Ireland to get the money.”