UEFA help FAI with stadium payments

[BonnieShels]

Not sure where to put this but an interesting development nonetheless.



UEFA have stepped in to help the Football Association of Ireland meet its debt repayments for the Aviva Stadium.
The organisation has confirmed that is has advanced a "solidarity payment", understood to amount to several million Euros from its development fund, to the FAI.
Finance director Josef Koller told the Sunday Times: "It is a really difficult situation, because of the economic crisis, and we said 'Okay, we can advance certain solidarity payments'."
The agreement was reached after a meeting between Koller and Danske Bank, the FAI's main creditor, at which chief executive John Delaney was present.
Koller said: "I just said to John Delaney that if you want me to be there and I can assist by explaining it from UEFA's point of view, I will do it.
"Danske felt very comfortable to have somebody from UEFA there, especially the finance director. It was really worthwhile to explain to Danske how important this is for us."
The FAI declined to comment on the report today.

http://www.rte.ie/sport/soccer/irish/2013/0609/455575-uefa-help-fai-with-stadium-payments/

[osarusan]

Delaney has said all along that the servicing of the debt was going fine. Hopefully he'll be asked if this was part of the plan, but I doubt it. The FAI will probably get away with no comment.

[gastric]

Under FAI finances, I posted a link that suggested Danske Bank were watching every cent that the FAI spent, such was their concern with the debt. It's all a bit concerning! They can't be deemed bankrupt I would assume, but something will have to happen.

[Alf Honn]

Not sure where to put this but an interesting development nonetheless.




http://www.rte.ie/sport/soccer/irish/2013/0609/455575-uefa-help-fai-with-stadium-payments/


This all sounds like the IMF taking over the country's finances! And we were told by the great CEO that everything's under control. Order another round there.

[Crosby87]

Is it a loan or do they not have to pay it back?

[geysir]

Is it a loan or do they not have to pay it back?
It's an advance on UEFA payments that they make to associations, though I don't think it should be spent for this.

[SkStu]

I have nothing constructive to add to this thread except fuucking hell.

[Drumcondra 69er]

To be expected really when we have an organisation run like a personal fiefdom by a man who'd have amounted to nothing more than a local FF gombeen council politician were it not for his family's football background.

[ArdeeBhoy]

Pretty much what everyone else said.
JD is a consummate politician and is one slick talking ******.

Though whether this is compatible with running the FAI is another issue. That is, he shouldn't.

[Stuttgart88]

It's an advance on UEFA payments that they make to associations, though I don't think it should be spent for this.No, but I suppose the reality is the FAI has bills to pay and the bank manager has more of a hold of the FAI's goolies than grass roots.