The disgraced John Delaney

Should point out that my post above was in relation to the FAI attempting to sort out their finances, if that is the route they are going, they are better off staying away from Oireachtas at the minute. I'd be in agreement with you that the whole thing should start again though, and if starting from scratch is going to be the alternative way forward, that decision needs to come from Govt/Sport Ireland - whatever anyone thinks of the FAI or current board, they aren't going to vote themselves out of existence. 

The only issue I have with that is that any insolvency will result in a sale of the most valuable asset the FAI own, and at a below market price, with absolutely no requirement on whoever buys it (whether that is the IRFU or someone else) to rent the stadium back to the FAI at anything other than a commercial rent.

I know we've been told for the last fifteen years that things will be better when the stadium debt is finally paid off, and it now looks impossible to do that for the next ten years, but it is nonetheless hard to say that the long term interests of Irish football are met by the FAI selling their one good asset, then handing over half the cash from one of their biggest income streams in rent.

Whoever is in charge needs to be doing those sums, but I'm not sure of the best outcome. The key figures are the annual interest charge, compared to what the rent would be on Lansdowne Road. I would be fairly confident that a figure of €1m a game would be light enough, so if the interest is lower than €5m a year, the FAI should probably continue to pay it. It isn't in the interests of the FAI to sell their share to clear the debt, if the outcome isn't going to improve their annual cash flow in any way at all, when the longer term position is an improvement (i.e. once the debt is paid off). There's even an argument that paying down the debt isn't even the most important thing, once it is both serviceable and actually serviced, if it is financially better than the alternative.

It would also mean the end of things like the cup finals in Lansdowne Road, though it might also mean spreading matches around the country again, like the two games in Limerick in 2009. Those are minor considerations of course but, even if all things are financially equal, there has to be a question as to what is the longer term interests of the game.

The other calculation is this: interest costs, assuming inflation, will come down as a share of income. Rent costs, if the stadium has to be rented, will presumably increase along with inflation. However, without knowing the actual sums involved on all of this, it is hard to say where the balance lies. Selling the share in the stadium or going into insolvency and starting again (much the same thing) won't necessarily result in a huge financial difference to the association (or the governing body, if there's a new one) if the costs of rent as opposed to interest are similar.

The problem is that we were sold a pipe dream. We were told that the capital debt of the stadium would be cleared next year; that isn't going to happen. However, just because that isn't the case, it doesn't mean that the single most important short term aim for the FAI should be clearing that debt. The financial health of the FAI is only ever a means to an end; if clearing the debt by selling the family silver is the best way to ensure there are more resources available, both in the short term and the long term, to develop the game, then that is the choice to take. However, if that is only a short term gain, with a much, much muddier medium and long term outlook, then it is a lot harder to say they should declare insolvency and start again.

I just hope whoever has control of the FAI books now is actually in a position to look at them properly, understand the numbers, understand the short and long term implications of the decisions they are making, and act in the long term interests of the game in this country. There's little doubt, though, that decisions in the last fifteen years, by those at the top, weren't always made with those factors front of mind.

I think this has been missed. These guys knew more than they let on. Ignoring McGlue whom we know was his personal secretary and lapdog the likes of Rea Walshe knew about the €100k loan. You would think a legal eagle would know that this needed to be disclosed in accounts under company law. She’s another one hanging on for dear life for whatever motive 

It'll be more. €15m loan from UEFA, €8m loss in 2018 which will be at minimum replicated this year. Will be minimum €4m for auditior/consultant fees for 2019 by year end, I presume the €3.6m mentioned last week isn't actually in the books yet and was just given for information reasons. 

There’ll be plenty of them there. A brazen and self-serving lot.

If they do decide to go down the route of folding the FAI and setting it up as a new entity, does anyone have any idea what that means for the Senior Mens team (I know I am ignoring the underage/womens team here but we can come to that again)? Do we get docked points from next campaign, banned from qualifying, removed from 2020 play offs etc?

Also, any repercussions for the League Of Ireland? i.e. not allowed have a 2020 league as punishment etc

I haven't heard anything mentioned on either front yet

I've never heard of another FA going completely bust, so have no idea what the consequences are. And worry we'd be made an example of to deter other FA's going down the same route