The IRFU have ruled out any prospect of them acquiring the FAI’s share in the Aviva Stadium.
The football association are going through a financial crisis, with liabilities totalling €62m, and have had a request for a bailout of €18m rejected by the government on Wednesday.
The FAI also have a debt of €29m on the Aviva Stadium and there had been speculation that the IRFU could take over this debt in return for the football association’s stake.
On Thursday, officials from the IRFU met with the Department of Transport, Tourism and Sport to discuss “the operations of New Stadium DAC”, which is the joint venture between the IRFU and the FAI that owns and runs the south Dublin stadium.
Following the meeting, the IRFU ruled out any chance of that happening, stating that they will be focusing their investment on the development of the sport in Ireland.
Their statement reads:
“To address recent speculation, the IRFU confirms that it does not have an interest in acquiring the FAI’s share in the Aviva Stadium. The IRFU’s investment program is centred firmly on the development of rugby at all levels and all available funds are fully committed to that program.”
IRFU have no interest in acquiring FAI's stake in the Aviva pic.twitter.com/8xHeejw2gC
— Seán McMahon (@Sean_McMahon89) December 19, 2019