I stood here last year and said that 2012 and 2013 are tough years. I also said that our business plans show a breakeven result in both years.
We have delivered in 2011.
We have delivered that in 2012.
We are on target to deliver it again in 2013.
If we were behind our targets, I might understand some of the comments, but we are not.
We are operating entirely in line with our plans.
Our cost base has been reduced so although the revenues which we forecast accurately during 2012 and 2013 are lower, when they increase from 2014 onwards, the margin between our lower cost base and higher revenues, means the Association will be well placed to generate the profits we are forecasting
From 2014 , we will benefit two-fold, firstly from the continuation of our reduced cost base and secondly from increased revenues that will allow us to repay our debt. Most importantly, our revenues from 2014 onwards are based on security that few other businesses enjoy.
From 2014 to 2020, the FAI will receive an estimated €60-70m in UEFA TV rights money as a result of a centralised television rights agreement in addition to income from the resale of premium seats, renegotiation of naming rights which generated over €40m from the initial sale, and UEFA hattrick f unding on a four year cycle
We are dealing in certainties here.
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