THE FOOTBALL ASSOCIATION of Ireland (FAI) has announced that the organisation has reduced its bank debt by €10 million after agreeing a debt refinance programme with Bank of Ireland.
The Association’s bank debt now stands at €35 million, with the FAI’s overall debt being halved in the past seven years.
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Speaking after today’s announcement the FAI’s CEO John Delaney praised businessman Denis O’Brien for his support of the organisation.
“The Board of the FAI and I would like to pay tribute and thanks to Denis O’Brien and his advisory support through Island Capital Ltd to achieve this positive outcome for Irish football,” he said.
“Denis has been a great supporter of the FAI for many years, and will continue to contribute to the salaries of our senior management team with the Republic of Ireland squad for the 2018 FIFA World Cup campaign,” said Delaney.
All teams participating at Euro 2016 this summer are guaranteed to earn a minimum of €8million from Uefa, not including any result-related bonuses or extra revenue generated from sponsorship deals in the lead-up to the tournament.
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John Delaney has 10 million more reasons to celebrate ahead of Euro 2016
THE FOOTBALL ASSOCIATION of Ireland (FAI) has announced that the organisation has reduced its bank debt by €10 million after agreeing a debt refinance programme with Bank of Ireland.
The Association’s bank debt now stands at €35 million, with the FAI’s overall debt being halved in the past seven years.
Speaking after today’s announcement the FAI’s CEO John Delaney praised businessman Denis O’Brien for his support of the organisation.
“The Board of the FAI and I would like to pay tribute and thanks to Denis O’Brien and his advisory support through Island Capital Ltd to achieve this positive outcome for Irish football,” he said.
“Denis has been a great supporter of the FAI for many years, and will continue to contribute to the salaries of our senior management team with the Republic of Ireland squad for the 2018 FIFA World Cup campaign,” said Delaney.
All teams participating at Euro 2016 this summer are guaranteed to earn a minimum of €8million from Uefa, not including any result-related bonuses or extra revenue generated from sponsorship deals in the lead-up to the tournament.
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