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FAI Accounts Reveal John Delaney Received €462,000 Severance Package

John delaney oireachtas

The Football Association of Ireland published their accounts for 2017 and 2018 with the latter report revealing the severance package paid out to former CEO John Delaney.

Delaney resigned from the Association in September following controversy surrounding The Sunday Times’ investigation into a €100,000 bridging loan the former CEO paid to the FAI in 2017.

The accounts revealed that Delaney had been paid a total of €462,000 in his severance package with €90,000 coming as a payment in lieu of notice and the rest being marked down as a “contribution to former CEO and Director” pension fund.

The FAI also currently have net liabilities of €55 million with the report outlining that €28.2 million of that is bank loans and are marked in that section due to “technical covenant breaches.”

The Aviva Stadium was also addressed with current interim CEO Paul Cooke outlining that it would be moved onto a 15-year normal mortgage which means it will be paid off off in 2034, a far cry from Delaney’s previous aim of 2020.

The accounts have also revealed the severance payment for the former Republic of Ireland management team, which included Martin O’Neill and Roy Keane, amounted to €1,903,277.

FAI

The publication of the accounts had been delayed on a number of occasions throughout the week and came just a couple of hours after current President of the Association Donal Conway confirmed his intention to step down from his role in January 2020.

Speaking on the Association’s current financial situation, Conway admitted that the board he was a member of “didn’t do their collective job well” and that their financial model was “clearly not fit for purpose.”

You can read the FAI’s full accounts from both 2017 and 2018 below:

2017 – https://www.fai.ie/sites/default/files/atoms/files/Revised%20Reports%20and%20Financial%20Statements%20for%20the%20financial%20year%20ended%2031%20December%202017.pdf

2018 –

https://www.fai.ie/sites/default/files/atoms/files/Reports%20and%20Financial%20Statements%20for%20the%20financial%20year%20ended%2031%20December%202018.pdf

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Author: Oisin McQueirns

Oisin McQueirns is a digital journalist at Pundit Arena. Massive fan of Leeds United, Ric Flair and Trusting The Process. Contact him here oisin@punditarena.com