Liquidation not a viable option for FAI, says Govt, as association issues apology

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The Government has said that neither liquidation nor examinership is “a viable option” for the FAI.

Paul Cooke at today’s reconvened FAI AGM.

It comes as the FAI board issued an apology tonight to everyone involved with the game in Ireland.

Delegates attending today’s reconvened annual general meeting of the Football Association of Ireland were informed of the threat of liquidation hovering over the organisation.

Vice-President Paul Cooke, also acting as voluntary executive lead, admitted this would be likely to unfold if the Bank of Ireland called in their €30m loan on the Aviva Stadium.

The FAI’s liabilities have soared to almost €70m, leading financial controller Alex O’Connell to reveal a cash injection of €18m is essential to stave off insolvency.

Ross ruled out the State directly bailing out the FAI but the prospect of buying their share in the national stadium could be the only solution for the cash-strapped organisation.

The Board of the FAI apologised following today’s reconvened AGM to “the hundreds of thousands involved with Irish football at all levels of the game, to the Irish public and to FAI staff”.

President Donal Conway said: “The clear message from our delegates today is that Irish football wants to move forward and we apologise to all our stakeholders for the mistakes of the past.”

In reposnse, the Minister for Sport Shane Ross said the Government “does not see either liquidation or examinership as a viable option for the Association or for Irish Football”.

Liquidation not a viable option for FAI, says Govt, as association issues apology

Minister Ross said: “Over the Christmas period Minister Brendan Griffin and I have been moving with other stakeholders to find a solution to the crisis that includes an acceleration in the pace of reform, the future of government funding, above all, a more secure outlook for FAI staff and certainty that grassroots football does not suffer.

A radical change in the FAI culture is essential to underpin other reforms.

“The long-awaited appointment of an independent chair and three other independent directors, expected in the very near future, should provide the necessary impetus for a new confidence in the reform process.

“In early January Minister Griffin and I expect to meet UEFA , representatives of all League of Ireland clubs, spokespeople for the trades unions, directors of the FAI and other stakeholders in pursuit of a solution that avoids liquidation or examinership but secures the future of Irish football.”

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