Guus hiddink has resigned as Dutch manager....
JD get out that 5 million quick. ..
.
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Guus hiddink has resigned as Dutch manager....
JD get out that 5 million quick. ..
.
The Football Association of Ireland’s debt now stands at €51.2m according to its most recent accounts.Quote:
Originally Posted by RTE
FIFA's €5 million payout to the FAI in the wake of the Thierry Henry handball has now been mentioned in a cover letter accompanying the accounts for last year.
The accounts and letter have been circulated to delegates in advance of the FAI AGM in Sligo next month.
FAI chief executive John Delaney and president Tony Fitzgerald have also written to delegates to warn that the results of the senior team in the autumn will determine the financial position of the association.
The FAI does not budget for qualification for major tournaments.
In better news for the FAI, turnover increased by 4% to €38m.
UEFA’s new centralised television deal guarantees the FAI €10m per annum and this was a factor in the rise in turnover. Sponsorship income also increased to €8million.
UEFA is owed €5 million according to the accounts, but this figure was stated at around €8.5 million by the European governing body just a number of weeks ago.
The FAI has continually stated its ambition to be debt free by 2020 but this appears a tall order, especially given the precarious state of Ireland’s EURO 2016 qualifying hopes.
The Irish Examiner has reported that Delaney had agreed in mid-April to answer questions from journalists relating to the accounts at the summit in Sligo, but that the press event has since been cancelled.
http://www.rte.ie/sport/soccer/2015/...t-51-2million/
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Doing a stand up job is our John!
In 2013 loans were reported at 43 million - but I am not sure which figure refers to stadium debt and which refer to total debt.
http://www.independent.ie/sport/socc...-29863091.html
I would love to see something from the FAI showing how they projected the debt being paid off by 2020, compared with actual payments made. Are the FAI on-track? If not, how far are they off-track?Quote:
The Irish Independent can reveal that the football association came to an agreement on the write-down of its Aviva Stadium loan at lunchtime yesterday, after almost six months of negotiations with Danske Bank.
A source close to the talks said the successful renegotiation of the FAI's loans, which now stand at €43m, leaves the association "in a very good position to achieve the objective of being debt free by 2020".
"This was a phenomenal bit of business when you think about it, almost a quarter of debt reduced following months of intensive negotiations," said the source.
FAI accounts for 2012 showed it owed €59m on the Aviva Stadium, which had put the deal in a perilous position.
I guess we never will see such a statement though.
Bank loans at end 2010 - 63.0m
Bank loans at end 2011 - 58.9m
Bank loans at end 2012 - 58.9m
Bank loans at end 2013 - 48.5m
Don't know exact 2014 details yet. Don't know why the drop is stepped - 5m, then nothing, then 10m - but they're hacking through the debt. At 5m a year, it'd be down to under 15m by 2020 - maybe under 10m given lower interest costs towards the end of the loan. It's possible.
5m a year on interest though - imagine what the LoI could do with an extra 5m a year in prize money. Turnover is up from E8.7m in 2001 to 38m in 2014 - E30m a year extra, yet what has the league really got for that?
But according to Bonnieshels link above, debt at the moment is 51.2 million - is this all debt, or stadium debt, or is there a difference?
Also, that lists actual bank loans - I'd love to see what they projected for each year until 2020.
Greece has a plan to be debt free in 12 hours. Tell the lenders to F off.
I just looked up the CRO - 2014 not yet filed.Quote:
Originally Posted by osarusan
In 2013, on top of the bank loans, long-term creditors also includes €9.6m of deferred income - sponsorship paid up front; possibly Aviva for the ground naming rights. Then there's a piddly bit of lease amounts due, and trade creditors due after one year of €1.3m; not sure what they are.
That's quite the turnaround in a year.
In terms of the headlines yeah, but you get the impression from reading the article that it's a bit of a fanciful notion.
I like their insistance on being debt free, the only way I see it is that they get some major payment in 2020 for the Euros matches being hosted here. I can't see Euro 2020 providing as much cash or nearly as much as this year or the last few euros. It's too disjointed, how will the UEFA laws apply to marketing, and how will the marketing work for it in general?
So the next question is if they are debt free and they can keep increasing their income, where will the money be distributed. NI are putting most of their Euro pot back into underage development. It would be great if they put 5 mil a year into underage and the rest into LOI. But would an increase in prize money just mean the same average players in LOI getting more money, thats not really a good investment.
They can just default. That'd make them debt free. Asset free too, ultimately.
They'll hardly default if they are 8/10s of the way paid by 2020, thats pure stupid. End up having to pay rent to then go back to use LR. :8 :/Quote:
Originally Posted by Stuttgart88