FAI finances

**pineapple stu** · 23/08/2012, 7:20 PM

Or with access to wikipedia.

**Charlie Darwin** · 23/08/2012, 7:26 PM

I refuse to believe a UCD alumnus would resort to such underhand tactics.

**Schumi** · 23/08/2012, 7:32 PM

Originally Posted by Charlie Darwin

I refuse to believe a UCD alumnus would resort to such underhand tactics.

Quite right, especially when there are automatic morse code translators available.

**osarusan** · 28/08/2012, 8:51 AM

It turns out that the FAI didn't no-show, and that actually the LRC had agreed to delay the meeting until yesterday.

IT report:

THE FAI have told staff the latest pay cut being implemented at the organisation will be temporary after all with the organisation’s board intervening to restore the clause which had been deleted as tensions between management and staff mounted in recent weeks.

As representatives of the association and SIPTU met at the Labour Relations Commission both sides acknowledged between 80 and 90 per cent of staff had signed up to the latest cuts package, which includes a 10 per cent salary reduction.

Union representatives have been calling for talks between the two sides aimed at finding alternative ways of making the savings involved, arguing that having taken two pay cuts already the staff cannot afford another.

The association has insisted on pressing ahead with the latest round of pay cuts as well as with a number of redundancies and a suspension of pension contributions. Neither side would comment on yesterday’s meeting.

http://www.irishtimes.com/newspaper/...323096322.html

**Junior** · 28/08/2012, 1:51 PM

Opinion piece from Dion Fanning.

Lots of rehashed stuff but might be worth a gander for those with a few minutes.

Basically talking of JD and Traps mutual appreciation society. Trap is unsackable in JD's eyes and JD did a great 'administrative' job for the Euros in the eyes of Trap.

Poor Communication / respect for the senior players yadda yadda.......

An estimated �10m per year sum is mentioned for the Centralised TV Rights starting in 18 months. A number I havent read anywhere before.

The FAI and LRC are due to meet again tomorrow to try and resolve the ongoing issues regarding pay cuts.

lots of by authoritative accounts and sources in the FAI but basically Fanning is stoking the fires........

http://www.independent.ie/sport/socc...r-3210147.html

**Junior** · 27/09/2012, 9:13 PM

So FIFA are stumping up �0.4m in a Grant and the Irish Government a further �0.5m to get a few pitches and training facilities set up at HQ to kick start the academy.......

http://www.rte.ie/sport/soccer/irish...h-development/

**gastric** · 27/09/2012, 10:39 PM

Originally Posted by Junior

So FIFA are stumping up €0.4m in a Grant and the Irish Government a further €0.5m to get a few pitches and training facilities set up at HQ to kick start the academy.......

http://www.rte.ie/sport/soccer/irish...h-development/

Considering the LRC and FAI are meeting tomorrow to try and resolve the issue over pay, conditions and possibel redundancies, isn't the timing of this announcement bad?

**Serb** · 28/09/2012, 10:04 AM

Originally Posted by gastric

Considering the LRC and FAI are meeting tomorrow to try and resolve the issue over pay, conditions and possibel redundancies, isn't the timing of this announcement bad?

The FAI were at pains to highlight that the grant is specific to the Abbotstown development project, implying that there's no way they could divert the funds to pay for something else (like wages for example). From the FAI website:

"The FIFA grant, which is specific for the National Sports Campus Development will be released for works to begin in March 2013. The new facility will provide excellent training facilities for elite players and underage international squads."

**Junior** · 14/01/2013, 9:45 AM

The JD Thread reminded me of the FAI Finances thread...

It all went very quiet regarding the meeting with LRC and employee strikes etc...

Anyone any update on this?

**gastric** · 14/01/2013, 10:19 AM

Don't know what is going on with the LRC, but this article would suggest life is not good for FAI employees. Secondly, I did read recently ( I think in the Irish Times) that Deutsche Bank are watching all spending at the FAI due to the size of the debt. John could stop giving money away and take a pay cut to help his employees, rather than trying to buy popularity.

http://www.independent.ie/national-n...i-3342961.html

**Junior** · 05/04/2013, 10:26 AM

RT� Prime Time - FAI financial problems highlighted (4/4/13)

Prime Time investigates the financial hangover of the Aviva stadium for the FAI.

Host - Pat Kenny
Reporter - Kevin Burns

Interviewed guests in order of appearance -

Philip Quinn,
Paul Rowan,
Brendan Dillon,
Paul Cooke,
Eamonn Walsh,
Caroline Rhatigan

Broadcast on Thursday the 4/4/13

http://www.rte.ie/news/primetime/

Note: I've taken this from a Jamesyirishguy post on ybig, so credit to him for uploading!

**paul_oshea** · 05/04/2013, 10:39 AM

10,000 tickets at �10,000 each, that's �10million if my maths are right....

**Charlie Darwin** · 05/04/2013, 10:44 AM

I can't tell if you're serious or not.

**Alf Honn** · 05/04/2013, 11:04 AM

Originally Posted by paul_oshea

10,000 tickets at �10,000 each, that's �1million if my maths are right....

My pass level maths says Delaney's claim of 6,000 ticket sales, at an avg �15k per ticket, equals 90 million.

If stadium cost 70 million, why the 60 million debt!

**paul_oshea** · 05/04/2013, 11:14 AM

I was serious but i misheard yer man. I thought he made an arse of himself when doing his basic multiplication - but i misheard him!! More fool me.

**Junior** · 05/04/2013, 11:34 AM

Originally Posted by Alf Honn

My pass level maths says Delaney's claim of 6,000 ticket sales, at an avg €15k per ticket, equals 90 million.

If stadium cost 70 million, why the 60 million debt!

Whatever about JD's claims, they never secured that sort of income. The guy in the programme quotes that the accounts have a €12.5m liability, which would include the deferred income linked to advanced sales but would also include other stuff such as sponsorship income etc.. So the only thing that could be said with certainty was that advance sales were no more than €12.5m and probably much less. However, Im not sure this factors in any stage payments, for example JD mentions that it would be 2 instalments of 3.5k€ plus 500€ per year for 10 years, so its possible (and probable) that the second load of €3.5k payments or the €5k (10 * 500€) is not included in that number. Regardless, I still dont think you will be looking at much more than 10m€-15m€ of income linked to these ticket sales - unbelievable to think the IRFU sold almost €100m of these tickets.

I know the debate has been done elsewhere on this thread and other threads of the reasons for this, however the video, suggest a failing may just have been delaying from 2007 to 2008 before launching the ticket sales.....The $hit was really beginning to hit the fan come 2008 both on and off the pitch, interesting to think could they have sold many more if they had launched 12 months earlier?

**Stuttgart88** · 05/04/2013, 1:14 PM

When did the IRFU sell their tickets?

Didn't Michael Fingleton pay for his via Irish Nationwide? There was talk of him having to give them up and he was furious.

Isn't the FAI expecting a mini-windfall from centralised TV right sales by UEFA for the next Euros (and this WC campaign?)?

I feel a degree of sympathy for the FAI on this. They were persuaded out of building eircom Park a decade ago with Deitsche Bank underwriting future ticket sales, and even though I can't remember the exact circumstances I'm blaming Bertie. It was discussed here earlier.

I don't think they had much choice other than to share the Aviva and they outsourced the corporate sales to IMG, a specialist at all this. No-one really saw the crisis coming, certainly not the timing and severity anyway. OK, some did, but many people smarter than JD got caught badly "long and wrong".

**paul_oshea** · 05/04/2013, 1:18 PM

Ya exactly stutts. Why did they postpone selling them? It wasn't an IRFU request or anything like that? So they could get out there first?

Fingers Fingleton. Sounds like such a schmarmy move he would pull. That's ridiculous.

**Macy** · 05/04/2013, 1:41 PM

Originally Posted by Stuttgart88

I feel a degree of sympathy for the FAI on this. They were persuaded out of building eircom Park a decade ago with Deitsche Bank underwriting future ticket sales, and even though I can't remember the exact circumstances I'm blaming Bertie. It was discussed here earlier.

The Fianna Fail Government wanted to build the Bertie Bowl (aka Stadium Ireland) in Abbotstown, which needed football and rugby as tenants. They said they would give the FAI no grants for eircom Park, to which the FAI said they'd go ahead anyway, and then the Government started threatening to make planning difficult (height of structure, opposing floodlights etc) due to the proximity to Baldonnel. The FAI had no real choice in the end but to give up on eP in the circumstances (although it took a coup iirc), imo.

I should add that Bertie Bowl may have been built, except for the intervention of the PD's and especially McDowell. Abbotstown was a vanity project, but I'd still have preferred it to be built, rather than hames that was made of the entire stadium situation.

**Junior** · 05/04/2013, 1:48 PM

The central TV rights money is what JD seems to be clinging on to as the saviour but as I've posted elsewhere, there is nothing guaranteed with future tv deals and who knows how international football will be seen in years to come and its commercial value?

Anyway, without watching the clip again I think the central TV money would amount to around €40m over 4 years, so €10m per year. They compared that to the current €6m or €7m the FAI currently receives per annum from RTE, Sky and other worldwide boradcasters.

So an increase not to be sniffed at but really not much more than is required to service the debt let alone pay any of it off.