The disgraced John Delaney

I don't think so. For example, the IRFU paid their share of the development costs with a reasonably priced 10 year ticket plan for the middle tier - they didn't share that with the FAI. I can only presume, on that precedent, that the same holds for the FAI and that they keep all their ticket revenue too.

It all depends on the text of the co-ownership agreement but based on the facts as known, it appears that each side keeps their own gate money.

The FAI are part owners of the stadium for basically the entirety of its usable life - while it is only a leasehold interest, after 50 years it'll be close to needing knocked and rebuilt anyway.

And whatever of the maths maybe not making sense ten years ago, the key fact is that they make sense today. Look at it like this:

You have two choices:

You can pay €100m to contribute to a stadium and with interest on the debt, it'll cost you something like €150m, and it'll be good for fifty years, and you host about six games a year.

Or

You can pay €500k a game rent on the same stadium, when finished, for fifty years.

Those are, allowing for inflation, basically equal options... in each case, it costs you €500k a game (in the first example, €150m for 300 games, in the second €500k per game, same difference).

BUT, take the position after ten years, assuming you pick option A:

At that stage, you have paid off €130m of the €150m (for the sake of argument here - they absolute key point is that you have paid off the majority of the debt). You are then given two options:

Continue to pay down your debt of €20m OR take a cash sum now but then pay €500k a game for the rent for the stadium.

€500k per game x 6 games x 40 years = a hell of a lot more than the €30m left on the debt. So it would all depend on the sum offered for the interest in the stadium.

HOWEVER, there are quite a few problems with selling the interest in the stadium. The first is the loss of security it gives you. The second is the fact that you end up with the worst of both worlds, in having paid a lot of interest but ending up with nothing to show for it. The third is that you are a distressed seller which results in you receiving a lower price. The fourth is that there is only one clear buyer.

In the example above, selling the interest in the stadium for anything less than €100m (seeing as that would give you the net position of having paid €30m for the ten year use of the stadium) would be absolutely bonkers, and there is no way that sort of sum is going to be forthcoming, given the difficulties outlined above.

It will hopefully not be considered by the FAI but the fact is, if they do sell their interest in the Aviva to cover short term cashflow issues, they will not get near what it is worth, never mind what it will be worth in income in the future.

But it is split as they are co-owners.

Any events, use of corporate suites, concerts, basically anything outside of football/rugby matches is split between the associations.