Executive Vice President of the FAI John Delaney has outlined in his opening statement to the Oireachtas Committee that he will not be commenting further on the 100,000 bridging loan based on legal advice.
Delaney and requested members of the FAI have been appearing in front of the Oireachtas Committee on Tourism Transport and Sport on Wednesday morning.
The meeting, which was adjourned for half an hour following President Donal Conway’s opening statement, returned at 11:30 with Delaney addressing the substantial bridging loan he gave to the organisation in April of 2017.
Delaney explained his side of the loan;
“I was advised at this meeting [on 25 April 2017] that if all cheques and FAI bank transfers issued to third parties at that time were presented for payment, the FAI would exceed its overdraft limit of €1.5 million on its bank account which was held with Bank of Ireland.
“At the meeting, I expressed serious concern and surprise as to how the FAI could have arrived at this position. I recall thinking at the time, if I had been approached even a few days earlier, I may have been able to better address the issue.
“As the matter was pressing and we had only a few hours to resolve potential issues that would arise if the bank overdraft was exceeded, as a precautionary measure and to assist the FAI, I wrote a cheque for €100,000 from my personal current account to the FAI.”
Following this Delaney outlined that based on legal advice he had been given he would be in no position to answer any questions based on the loan or his former role within the organisation of CEO.
“On legal advice I am precluded from making any further comments at this hearing in relation to the finances of the Association or my former role as CEO or the €100,000 payment either directly or indirectly. In the interest of fair procedures and natural justice , while I have made this statement to the committee and attended this meeting voluntarily as I have attended many Oireachtas Committees in the past, I am not in a position to answer any such questions here at this time.”