Sport Ireland have on Tuesday revealed they are seeking urgent clarification from the FAI regarding a loan from it’s Chief Executive John Delaney.
Sport Ireland have said they have written to the President of the FAI asking for clarification in relation to media reports about a loan from John Delaney, while also asking under what circumstances of the loan were and its repayment. Speaking to RTE Sport, Sport Ireland said it was not notified at any stage in 2017 about any apparent material deterioration in the FAI’s financial position, as per Sport Ireland’s Terms and Conditions of Grant Approval, and has sought additional clarification in relation to this matter.”
Delaney has confirmed that he indeed provide the FAI with a 100,00 bridging loan in April 2017. Delaney released a statement in which he said that he acted in the best interests of the association at a time when immediate funding was needed. He stated a short term cash flow issue was why the loan was needed. The FAI have since said that the loan was repaid in June 2017. The FAI have released a statement saying that Sport Ireland have been in contact with the CEO John Treacy in contact on behalf of the Minister for Sport Shane Ross. A statement on the issue read: “This is a matter for the FAI’s Board and auditors to clarify. Sport Ireland has been assured by the FAI’s auditors that public funds are allocated by the FAI to the intended programmes.”
An FAI spokesman said: “The FAI is currently undertaking a full review of its executive governance and senior management structures.
“This review will be completed and all actions approved by early April when a full press conference will be held to reveal all outcomes.
“In the meantime, the association reiterates that the bridging loan was made in the best interests of the FAI in 2017 when it experienced a short-term cash flow issue.
“The Board of the FAI has been kept fully informed in relation to this matter at all times.”
It remains to be seen what will happen but I expect nothing will come of it.