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The disgraced John Delaney
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Liam Brady
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Points: 1376 		Post Options Post Options   Thanks (0) Thanks(0)   Quote greengooner Quote  Post ReplyReply Direct Link To This Post Posted: 06 Dec 2019 at 4:18pm
Originally posted by Strazdas Strazdas wrote:

Originally posted by E2016 E2016 wrote:

Some key points.

  • Significant under payment to revenue, estimated to be 2.7 million but revenue not accepting that figure currently.
  • Deloitte talk about the 57 million of debt with significant losses since the balance sheet date. They say that they will need additional financing to meet debt as it falls due.
  • They say that there isn't sufficient evidence to suggest the fai will be able to pay its debt as it falls due and thus not sufficient evidence that the fai will continue.
  • Deloitte say that the process undertaken to discover other unrecorded liabilities by the directors was not good enough. They think that there could be more unrecorded liabilities as a result.
  • The board acknowledge that there may be more unrecorded transactions uncovered down the road.
  • Board trying to restructure the debt but don't give any indication on the progress of this.
  • Board say they will need more funding to meet obligations going forward.
  • Unless I am reading it wrong, Delaney got an effective 1.1m in 2016, 863k in 2017 and 994k in 2018. This includes salary and various other payments, but includes deferred pension arrangements.
  • On that point, Delaney entered into a contract with the fai in 2014, worth an additional 428k per year in the form of a service related employee bonus and a deferred pension arrangement. This was not mentioned in any board minutes and also did not appear in the payroll or personnel records. (Surely this is illegal)
  • Roy and Martin and team got 1.9 million of a payoff.
  • UEFA funding of 5 million in 2017 and 8.5 million in 2018 may have to be repaid if the FAI cannot meet financial solvency arrangements.
  • The debt level may be much higher due to unrecorded transactions which haven't been uncovered yet.
They are going bust.

Those numbers are insane. The CEOs of the likes of Spain, Italy, Belgium and NL wouldn't be on that type of money.
combined...!!! wouldn't be on that type of money.
 
Sorry, this kind of lunacy in respect of payments, salaries and insolvency concerns was well signposted years ago on this forum.
 
almost nobody listened. And now everyone is surprised.
 
WTF.
 
Platini are you listening
You'd better keep your trophy glistening
Cos we'll be over next year
To drink all your beer,
Walking in an Irish Wonderland.
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I see crisc clubs finally waking up . Wonder if them ,co 88 , Ballybrack etc . Liked the cake at jds birthday 
One City,One County,One Club GUFC will be back.
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Any chance of UEFA fixing the play off for us so we qualify and maybe pay them back some day?
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Robbie Keane
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Originally posted by t_rAndy t_rAndy wrote:

Any chance of UEFA fixing the play off for us so we qualify and maybe pay them back some day?


LOL


That thought had crossed my mind. It would be in their interest for us to make it alright
Eamonn Dunphy:"I'll tell you who wrote it, Rod Liddle, he's the guy who ran away and left his wife for a young one".

Bill O'Herlihy: Ah ye can't be saying that now Eamonn
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Kevin Kilbane
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Originally posted by gufct gufct wrote:

I see crisc clubs finally waking up . Wonder if them ,co 88 , Ballybrack etc . Liked the cake at jds birthday 

Certain fellas who posted regularly on YBIG about their mate JD have gone very quiet!

Soup merchants.
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Got banned from all football activity for 6 months because of my Facebook comments questioning the Clare league defending John Delaney and the FAI. 
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Liam Brady
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Originally posted by The White Cafu The White Cafu wrote:

Got banned from all football activity for 6 months because of my Facebook comments questioning the Clare league defending John Delaney and the FAI. 


Can we see the comments? Tongue
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Originally posted by The White Cafu The White Cafu wrote:

Got banned from all football activity for 6 months because of my Facebook comments questioning the Clare league defending John Delaney and the FAI. 


You need way more background information than what's on that website to gain traction
Here we go again
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Liam Brady
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.

Edited by The White Cafu - 06 Dec 2019 at 7:00pm
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apart from general concerns regarding kids been stopped been played the game, that's mostly done on local levels and national leagues can run themselves as they mostly f**king do anyway, I'd advocate let the fai collapse. Forgoe the national team and teams for the moment until a organtion is in place fit to run it, with pride. Do it on an amatuer level.

Yes take the hit on potential hosting the euros. Take the hit and start from scratch. 

I've had enough. This is beyond chronic. A government wouldn't survive such shambles. 
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Anyone have the link to the doc that was released today? Only finding the 2018 one at the moment
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Don't fret just yet lads.   There's kids in Ethiopia having a whip round and writing a charity single with all proceeds to the FAI.
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Originally posted by Gary McKay Gary McKay wrote:

Well Im glad I saved €2k the past 8 years not giving money to the John Delaney Pension Fund.



How did you save this money Gaz ?
l hear you are a racist now, father ?
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Originally posted by The White Cafu The White Cafu wrote:

Got banned from all football activity for 6 months because of my Facebook comments questioning the Clare league defending John Delaney and the FAI. 


Signed, feel free to set a separate thread up 
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Davey Langan
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Points: 815 		Post Options Post Options   Thanks (0) Thanks(0)   Quote belt Quote  Post ReplyReply Direct Link To This Post Posted: 06 Dec 2019 at 7:40pm
Originally posted by Shedite Shedite wrote:

Anyone have the link to the doc that was released today? Only finding the 2018 one at the moment

It was only the 2018 accounts released today.....delayed from earlier in the year. 2017 accounts had to be restated too.

2019 results  probably won't be available until April/May 2020 so expect debt levels to increase further, particularly given the fact we will have to pay UEFA back what they are currently bankrolling us with
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Went through the figures there with the wife who's an Accountant, they basically had the wrong numbers for 2017. They've redone those numbers in the report.

On the Profit and Loss account (which shows what went in and out that year), originally they thought they made 2m profit that year, but actually made 2m loss. "Admin Expenses" were understated (were quoted at 11m rather than 15m).

Then on the balance sheet (which shows what the position at the end of the year, what you have in the bank, what you owe etc), there's a line to show how much you need to repay in the next 12 months (would have been 2018). When they did the figures first they told us they had 21m due, when it actually was 64m. That extra 43m was a bank loan, in the category amount you need to repay more than 12 months away. So sounds like sometime in 2018, they realised they had to repay the bank loan a lot sooner than they realised.

Did they give any detail today as to why the bank loan was changed (or what it was for?)
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Originally posted by OohAah... OohAah... wrote:

apart from general concerns regarding kids been stopped been played the game, that's mostly done on local levels and national leagues can run themselves as they mostly f**king do anyway, I'd advocate let the fai collapse. Forgoe the national team and teams for the moment until a organtion is in place fit to run it, with pride. Do it on an amatuer level.

Yes take the hit on potential hosting the euros. Take the hit and start from scratch. 

I've had enough. This is beyond chronic. A government wouldn't survive such shambles. 



I don't believe there would be any need for the national teams to withdraw from competitions. If necessary, UEFA could fund them as an emergency measure.

The rest of the FAI could easily go out of business though.
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Originally posted by Strazdas Strazdas wrote:

Originally posted by OohAah... OohAah... wrote:

apart from general concerns regarding kids been stopped been played the game, that's mostly done on local levels and national leagues can run themselves as they mostly f**king do anyway, I'd advocate let the fai collapse. Forgoe the national team and teams for the moment until a organtion is in place fit to run it, with pride. Do it on an amatuer level.

Yes take the hit on potential hosting the euros. Take the hit and start from scratch. 

I've had enough. This is beyond chronic. A government wouldn't survive such shambles. 



I don't believe there would be any need for the national teams to withdraw from competitions. If necessary, UEFA could fund them as an emergency measure.

The rest of the FAI could easily go out of business though.

+1

As UEFA recognize football associations could the FAI actually be rebranded as something else or would the new FAI have to apply for membership? 
Wings? They're only the band The Beatles could have been.
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