Huge concerns over FAI’s ability to continue to function – Rock

THE stark accounts of the Football Association of Ireland (FAI) pose major concerns as to whether it can continue to function and meet their liabilities, a Fine Gael TD has said.

Dublin North West TD Noel Rock said the ability of the €55m debt laden FAI to function as going concern hangs in the balance.

“These accounts published today display huge debt burdens and come against the backdrop of the FAI losing its most lucrative commercial contract. It is a dark time for the administration of football in Ireland,” Deputy Rock said.

“There are numerous questions now that have to be answered about their financial obligations, commercial arrangements and how they intend to continue to function.

“Deloitte clearly decline to state that it is a going concern. This is a significant development as it will mean the FAI will find it difficult to obtain refinancing for its existing debt obligations. This is a concerning development for football fans. Answers and leadership are urgently needed.

“The hard-working staff, FAI coaches and volunteers across the country have been treated shambolically with this. Professional and diligent employees working for the better of Irish football have been left wondering about their livelihoods. It is simply not good enough and cannot be accepted at any level,” Deputy Rock said.