FAI records surplus of �2 million

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08/07/2007, 5:05 PM
A face

FAI records surplus of �2 million

FAI records surplus of �2 million

The FAI today reported a surplus of �2 million for the year ended 31st December 2006 and a retained surplus of �0.1 million, following operating and development grants. Having played 162 international matches 38 additional staff were recruited to both develop and promote the game. Turnover increased by �1 million as revenues from revenues from sponsors, the Irish Sports Council and UEFA/FIFA increased. "Cash and funds flow increased by �3.8 million and a total of �14.9 million was recorded in bank and cash balances while net assets were at �12.2 million at year end."

FAI Chief Executive Officer John Delaney is hoping the association will have close to �30 million in funds available by the end of this year to invest in the redevelopment of Lansdowne Road Stadium. That figure does not include advance ticket sales. "The commitment required for the New Stadium is �59.5 million and I'm pleased to report that the Association is in a financially strong position to meet this requirement", said Delaney.

The FAI boss also highlighted what he saw as the achievements in 2006, "In a year where many of the highlights were very high profile including the planning permission granted for the New Stadium, the confirmation of our move to new headquarters at Abbotstown and the merger of the eircom League of Ireland, what is particularly pleasing is the progress of the development of the game across all its strands from grass roots to elite", Delaney said.

Read more at www.irishfootballonline.com
08/07/2007, 5:10 PM
don ramo

get onto them to up the prize money again :D

its good to hear our governing body is makeig money, and lansdown raod will be on track financially anyway, id say the eircom league helped this along and will push it further in the next 3-5 years and the prize money will surley rise with it,

good times ahead:ball::ball:
08/07/2007, 6:17 PM
Burny89

If this is a surplus, then isn't the deal with getting grants and all that jazz going to be reduced cause they ahve shown this year that theyy haven't spent all money avaiableto them?
08/07/2007, 6:42 PM
A face

Quote:

Originally Posted by Burny89

If this is a surplus, then isn't the deal with getting grants and all that jazz going to be reduced cause they ahve shown this year that theyy haven't spent all money avaiableto them?

The surplus isn't all grant money though. But you're right, i think that it might have to be handed back if its not spent.

I would like to see the money used to boost prize money as only a fraction of clubs will see the benefit, if money is to be spent it should impact on all clubs. And being honest its small money considering that the FAI govern all levels of football, not just the eL.