Printable View
Finance at that level baffles me. Most of it I get (or think I get) but stuff like the Glazers being able to buy Man United or Hicks and Gillette to buy Liverpool with the club's own money is just mental.
Anyhow, they might be better to wait for the sales and see what's going on then.
http://www.independent.ie/sport/socc...-29863091.html
€12.5 million written off apparently
Delaney painting himself as some sort of messiah. Granted he has done some good things, but the amount of spin in this article is amazing, particularly when he talks about the FAI's investment in the Aviva Stadium.
http://www.independent.ie/business/i...-30241450.html
Ah Jesus Gastric, do you want to spoil my sunday!!!:mad::)
I wonder what they could have got for that Aviva financial commitment? Probably a very tidy compact 40,000 seater on the Luas line. I'd have preferred that. Then when a really big game comes along the IRFU and GAA could compete for staging it.
I still feel uncomfortable with the FAI spending a shed load of money on something they don't have a proper share of the freehold on.
I think Delaney has given a good account of himself though. However, for me, the elephant in the room is the fragmented nature of the domestic game. He cites the help of Kelleher and Desmond, but these type of people should also be on the FAI Board in some capacity and putting pressure on the FAI in other areas.
Especially when at the moment Waterford (His second team:p) appear to be in trouble.Quote:
Originally Posted by Stuttgart88
A nice easy article from his friends in the press, no doubt over a few jars.
His friends in the press? The Indo hates him and is never slow to throw a dig the FAI's way!
The Indo hate him but the Sindo don't - they have a history of popping sweeties in Delaney's mouth. They even sent Barry ****ing Egan to interview him once.Quote:
Originally Posted by Stuttgart88
By the same token though there's a school of thought that the usable lifetime for the stadium (60 years) will suit the FAI given a major upgrade will be due then.Quote:
Originally Posted by Stuttgart88
At that stage, who knows what world we will be living in again then.
Didn't Dion Fanning give him a grilling post-Sopot?Quote:
Originally Posted by Charlie Darwin
Maybe, I'm not sure, but I don't think they really have an editorial line towards the FAI the way the Indo do. I think Denis has a bit more sway at the Sindo since Dion's dad died whereas the Indo is still in open revolt against him.Quote:
Originally Posted by Stuttgart88
Ah come on Stutt did you not read that Barry Egan interview!!!:confused:Quote:
Originally Posted by Stuttgart88
No, I didn't, but I stand by my remark. The Indo is constantly having a dig at FAI and even the national team. I don't distinguish between The Sindo and The Indo, so maybe it's much more one than the other.
Well I dont read that rag, but as mentioned probably is a difference between the football writers and the restQuote:
Originally Posted by Stuttgart88
That was before the Independent became official newspaper group of the FAI thoughQuote:
Originally Posted by Stuttgart88
Although it could be just a co-incidence
They're completely different newspapers.Quote:
Originally Posted by Stuttgart88
I'd say the papers are brotherly, but not identical twins.
That was a stroke and a half for Delaney to get the Indo as a FAI...."stakeholder" (buzz word alert).
As much as people talk about him and try and negate the situation, the facts speak for themselves, the revenue steams speak for themselves. Getting 100k for GU didnt help much and seems like an ego boost but overall if he were in business the shareholders and IIs would resolutely be backing him just like his current board members are.
All week the Indo keeps knocking, everyone and everything, and on Sunday, the Sindo perches them back on the pedastal.
I'm reading Jonathan Wilson's book "Behind the Curtain: Travels in Eastern European Football" at the moment. It's a good read.
Some of the ex-Soviet bloc leagues and national associations, even in wealthy countries like Slovenia, make the FAI and LOI look like a model of sound economics and good governance!
I loved that book. Was it Romania that had the semi-formal group of clubs that agreed to trade wins to keep themselves in the top tier?
Slovenia isnt wealthy and has had a bailout for about 4bil euro. Drop in the ocean compared to ours but still. I gather you mean relative to the other countries though in the book.
Yes - relative. I'd say Slovenia is one of the wealthier ex-Communist small to mid-sized countries, if not the wealthiest. But, like Ireland, they allowed things to get out of hand and suffered a deeper recession than most as a consequence.
I haven't got that far yet!Quote:
Originally Posted by NeverFeltBetter
In a corporate sense maybe but what about the stakeholders, the footballing public, certain clubs in Dublin he might have a hard time even showing his face!Quote:
Originally Posted by paul_oshea
Thats a fair point benno, but the FAI were a bit of a laughing stock from a PR point of view and a financial point of view, no due dilligence or process in place for anything it had gotten involved in. He has certainly made them financially viable and put them on a level footing whilst at the same time romancing the media at every opportunity and potraying a well-oiled machine. Thats half the battle, I think sometimes people forget what he is doing here, as much as putting himself on the front, he is advertising a well run professional outfit.
The next step would be to try and get the stakeholders on board and sharing the same vision whilst at the sametime engaging with all sides.
Who is the "footballing public" and "the stakeholders"?
I'd say many of the key stakeholders are very happy - that's the problem! The FAI leaves them alone in return for them leaving the FAI unchallenged at AGMs etc.
The "footballing public" are hard to please. The FAI will always be muppets in many's eyes. The two words are inextricably linked!
I know Benno thinks I'm a "FAI head" - I'm not - but I do think certain aspects of that Indo piece are fair. No matter how well regulated a league is, some clubs will always find solvency a tall order. The LOI seems to be in better shape (although James Chambers looks a stone overweight!) than 5 years ago, certainly financially. The level of competition is good and the LOI has had a really exciting first 10-11 games and any one of 5 teams could go on to win it. I was at St Pats recently and there was a good crowd, good atmo and some good players.
I think the FAI should be harder on the regressive factions at schoolboy and other levels. I think they could make it much easier and less costly for talented young coaches to achieve their UEFA badges. I think there is a lot they could do better and I'd like to see the voting structure and Board structure adapted.
I don't think that's anywhere close to being true.Quote:
Originally Posted by Stuttgart88
James Chambers or the LOI?
Both. Chambers is big, but not fat.Quote:
Originally Posted by Stuttgart88
OK, so he's big-boned, like Andy Reid :)
I'm not saying LOI finances are healthy (is any football league ever properly healthy in P&L terms?) but I am under the impression they're better than 5 years ago and the trend towards 40-week contracts has stabilised the situation at clubs.
If there's a financial review available I'd be interested.
Of course there's always stuff like this (result of a google search on the topic) but if there's anything more extensive I'd be interested.
http://www.fai.ie/domestic-a-grassro...-launched.html
Fact you have to ask that question?:)Quote:
Originally Posted by Stuttgart88
Every year the LOI loses a club, and this year Waterford are looking a bit dodgy. For the head of the FAI to be taking much more than what the champions of the LOI get is a disgrace, and he has done very little for the league. I am not asking for miracles just not treat the LOI as some sort of virus, and promote the league far more. That and the big FF head on him, urgh.
As for steadying the ship, last time I looked the FAI were in debt, paying for a stadium they wont even own in the far off future. FAI are still the joke of the pack.
Another groundhog day discussion :)Quote:
Originally Posted by bennocelt
In the far off future, stadiums crumble and have to be rebuilt.
Wembley Stadium has a 50 year design lifespan. The FAI are 50/50 owners of Lansdowne Rd, for 60 years .
From a leashold perspective no one ever owns the land or building, the own the use of it for that period of time, however usually they have a chance to extend it for a tiny fraction of that initial cost...I doubt the FAI have this.
Yeah I know I know, not good for my health:oQuote:
Originally Posted by geysir
Still though those repayments are monies not spent on local football, and technically doesnt the bank own it?
Technically the key holders own the stadium (in this case the IRFU / FAI joint venture) and the bank has a security charge on it, which it can enforce if the debtor doesn't repay. No?
I don't know the actual economics in this instance (few do), but the argument that the mortgage repayment is money not spent elsewhere would more than likely be countered by: better stadium = better crowds = more gate income = more profit = better funded association = better funded grassroots etc.
It's like saying don't ever buy a house because it'll allow more money for groceries. If you don't buy you have to rent. Rental costs may rise faster than income. The question is whether the FAI could have secured a long term rental agreement, and my guess is they couldn't because the IRFU needed a partner to raise cash upfront.
Ok, so it didn't work out like they hoped but the debt renegotiation has seemingly given some headroom.
Yet another Groundhog Day argument but I don't find fault for the FAI being caught offside by the economic crash. The IRFU sold their tickets a year earlier but are facing a tough time with the first wave of renewals.
I'm not dogmatically defending the FAI here, but the idea that you at least part-own your own stadium isn't the daftest thing in the world. Did the FAI get good value from the arrangement? I have my doubts.
But the problem is that the money never trickles down, not in Ireland anyway.Quote:
Originally Posted by Stuttgart88
Re the crash, the tkt prices were far too high, for football fans, rugby have a different fanbase.
Didn't know where else to put this....
Good article by Emmet Malone on Ireland's farcical tour to South America in 1982.
http://www.irishtimes.com/sport/socc...1813889?page=3
The threat of that coming to pass, though, was very real. Hand made the first of two trips to England to sound out English club managers about the availability of their players. At Manchester United Ron Atkinson, when asked about Ashley Grimes, Kevin Moran and Frank Stapleton, said the FAI could “f**k off”. “I told him I needed his official response,” recalls Hand, “and he said: “F**k off, that’s my official response.”
http://www.rte.ie/sport/soccer/inter...-debts-of-50m/
RTE posters in the comments section are usually idiots of the highest order but it's hard to argue with anything they say underneath this article.
The news at 1 on radio was supposed to cover this story, but don't think it did (I missed first 10min of it so I may be wrong). 50m debts and 5m annual interest bill, and a story recently in the Indo sports section was that Wexford Youths had debts of 140k. Wait for the spin and news management on these account in coming days.