I do.
I don't agree with your analysis of the cheque over bank transfer though. It was lodged 24 hours after it was written - it was clearly needed. But it still takes 3-5 days to clear. That means for 3-5 days after you lodge it, it will appear on your bank statement but you will not be able to spend it.
Such a crisis also doesn't tie in with two things. The first is the basic operation of a financially-strapped company. I worked in a garage which went bust; the MD wanted bank balances first thing each morning for the three months before the bank stepped in. Cash crises do - or shouldn't, at least - come out of the blue like this one has.
The second issue is a rough analysis of the FAI's cash flows. They had 900k at 1 Jan. We know they're getting Sport Ireland funding as early as possible - say E1m. The Wales game was a sell-out - would that have cleared another E1m? It must be a big cash generator for the FAI. Then there's UEFA money - let's ignore it for now, but it's big. And there's the usual trickling income from the league, the FAI shop, sponsorship, etc, etc
So that's about 3m - but by the middle of April, they were breaching their E1.5m overdraft. That's 4.5m burnt through in 15 weeks. 300k a week. That's too big for me. I don't believe it.
Now maybe of the 900k in the bank, 2m was UEFA money owed to Dundalk. That would be huge of course. But on what I can see for now, I don't believe the bridging loan theory. But I absolutely acknowledge that their treatment of Dundalk is that of an insolvent organisation.
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