FAI CHIEF EXECUTIVE John Delaney says he acted in good faith when he issued the Association a loan worth €100,000 in April 2017.
In response to a story in today’s Sunday Times – which stated that Delaney issued his employers a personal cheque worth €100,000 in April 2017 – the FAI last night circulated a statement on behalf of Delaney in which the CEO said the money was “a once-off bridging loan to the Association to aid a very short-term cash flow issue.”
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He also said that the money was repaid in full in June 2017, and that it was the only occasion on which he issued the Association with a loan.
Delaney further addressed the loan in a second statement published by the FAI tonight, in which he said he acted in the FAI’s best interests.
“I acted in the best interests of the Association at a time when immediate funding was needed”, the statement read.
“This loan had no impact on the full financial position or performance of the Association for the year. It was a matter of timing.
The monies received from EURO 2016 were utilised in that year’s budgets as outlined in the financial report to the 2017 AGM. As CEO, I hold regular meetings with our Director of Finance regarding the state of our finances and all items arising are conveyed to our Board at our monthly meetings.
“This was the case in 2017 when I acted in good faith for the benefit of the FAI and will continue to do so.”
The same statement said that the FAI have commissioned an external review of the Association’s executive governance and senior management structures, and expect to discuss the review at a press conference at the beginning of April.
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'I acted in good faith for the benefit of the FAI' - Delaney further addresses loan issue
FAI CHIEF EXECUTIVE John Delaney says he acted in good faith when he issued the Association a loan worth €100,000 in April 2017.
In response to a story in today’s Sunday Times – which stated that Delaney issued his employers a personal cheque worth €100,000 in April 2017 – the FAI last night circulated a statement on behalf of Delaney in which the CEO said the money was “a once-off bridging loan to the Association to aid a very short-term cash flow issue.”
He also said that the money was repaid in full in June 2017, and that it was the only occasion on which he issued the Association with a loan.
Delaney further addressed the loan in a second statement published by the FAI tonight, in which he said he acted in the FAI’s best interests.
“I acted in the best interests of the Association at a time when immediate funding was needed”, the statement read.
“This loan had no impact on the full financial position or performance of the Association for the year. It was a matter of timing.
“This was the case in 2017 when I acted in good faith for the benefit of the FAI and will continue to do so.”
The same statement said that the FAI have commissioned an external review of the Association’s executive governance and senior management structures, and expect to discuss the review at a press conference at the beginning of April.
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FAI Governance John Delaney