FAI renew deal with Eircom
from www.rte.ie
The FAI has renewed its sponsorship agreement with eircom, netting around €7 million for Irish soccer's governing body. The new contract, which replaces the 10-year agreement that was signed in 1999 to incorporate the proposed eircom Park, establishes the telecommunications company as the primary sponsor of the FAI until 2008.
Eircom will also have the option to extend the contract for a further four years. As part of the new deal, eircom will retain title sponsorship of the National League.
Managing Director of eircom Retail, Cathal Magee, revealed: "The reality is that what we want from this sponsorship and what the FAI is in a position to offer are very different now to when the original deal was negotiated.
"The most dramatic example of this is that eircom Park never became a reality and as a result many of the proposed benefits failed to materialise for the sponsor. There are other examples and increasingly both eircom and the FAI saw the need to re-appraise the nature of the agreement and potentially re-mould it into a form more consistent with the needs of today. This was a lengthy process but I am delighted that it is now complete."
"Over the next five years we intend to establish a new benchmark in Irish sport for how business and sports organisations can work together. We want to become supporters of Irish football and partners of the FAI rather than sponsors of the Irish team. This is a long-term project."
FAI Chief Executive Fran Rooney added: "The original agreement was probably too ambitious in that it involved a ten-year commitment. It is difficult to establish an effective sponsorship platform over such a long period and the changes that have occurred within Irish Football since that first contract was signed are illustrative of that point.
"What is exciting is that eircom agreed to work with us on such an extensive refurbishment of the relationship in parallel with the programme of change that we have commenced within the Association itself. They demonstrated their faith in the change process before it had really taken root and I believe their renewed commitment signals a huge confidence in the game in Ireland and the FAI.
"They have also chosen to extend their support of the National League at a time when the domestic game is undergoing its own challenges. I believe this agreement demonstrates the power of this sport above any other to attract sponsorship investment but also a belief that the sport is in good hands and that the new FAI can and will deliver sponsor value."
The main elements of the new agreement are:
· The contract runs to December 2008 with an option to renew for a further four years.
· The basic value of the contract is €7 million cash excluding any performance benefits that could be achieved through the participation of the senior international team in World and European Championship finals.
· eircom assumes the designation of Exclusive Primary Sponsor of the Association through which it will leverage its support for Irish football at all levels.
· The agreement incorporates specific commitments by all senior international players and management.
· eircom will remain as Title Sponsor of the National League for the period.
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It has to be said ... seems to be operating better. BUT he is cleaning up himself .... it aint out of the goodness of his heart or anything. If the FAI do wel then he does well. He actually has a golden ticket with him getting a percentage of all funds generated.
I omly hope that he leaves the organisation in a better condition than when he got it, and that he seems on track to do.
That said .... he hasn't really done anything directly for the league. Nothing of substance anyway.
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Quote:
Originally posted by A face
BUT he is cleaning up himself ....
i've no objection to a performance related bonus when he's doing a good job, especially when you see stories of CEO's running companies into the ground and getting millions in golden handshakes. he's doing a good job so far, should be rewarded properly
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Quote:
Originally posted by tiktok
i've no objection to a performance related bonus when he's doing a good job, especially when you see stories of CEO's running companies into the ground and getting millions in golden handshakes. he's doing a good job so far, should be rewarded properly
I agree but i heard recently he is getting something like 25% bonus, that is staggeringly (spelling?is that a word) high. I dont really compare his job to that of a CEO in the private sector .... i dunno it is sport ... it is different.
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Quote:
Originally posted by A face
I dont really compare his job to that of a CEO in the private sector .... i dunno it is sport ... it is different.
Why is it different? These are multi million Euro deals. We need professional business people taking care of them. The days when some part time amatuer negotiated for us has gone and thank God for that. The FAI is now a huge commercial venture and needs to be properly run. Rooney seems to be doing a good job, so let's wish him continued success.
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I know what you are saying and agree, but if you compare his wages to his same rank in the IRFU or the GAA, they aren't on a quater of his wages (from what i understand, open to correction)
But yeah .... definitely time to move on from the old days.
Re: ..................................
Quote:
Originally posted by A face
BUT he is cleaning up himself .... it aint out of the goodness of his heart or anything.
Its his job just like anyone else. Job = Wages.
