Sinn Féin sports spokesperson Jonathan O’Brien TD has said the publication of the FAI’s 2018 accounts showing net liabilities of €55million are absolutely shocking and worrying for the future of the organisation.
He said ordinary football fans across the country will also be gob-smacked at the severance package of €462,000 paid out for former CEO John Delaney.
Speaking this afternoon Teachta O’Brien said;
“The reality is that nobody was expecting good news today but what we have seen is absolutely shocking and worrying for the future of the organisation.
“The FAI now has financial liabilities of €55 million and was operating a negative cashflow at the end of 2018.
“In the 2017 accounts the FAI reported a profit of €2.8 million – that now, following these accounts, has become a loss of €2.9million.
“The auditors were unable determine whether adequate accounting records have been kept and were unable to report if, in their opinion, the disclosure of directors’ remuneration and transactions specified by law were made.
“All of this is an indictment of the former CEO John Delaney and makes a mockery of his repeated claims that the association would be debt free by 2020.
“Ordinary football fans across the country will also be gobsmacked at the severance package of €462,000 paid out to John Delaney.
“This is a bleak day for Irish football and all those fans who spend their hard-earned money to follow clubs and the National side year in, year out.
“If there are to be job losses at the association then it needs to begin with those who are responsible for this mess rather than those who work tirelessly behind the scenes to promote Irish football every day.”