Sport Ireland retracts FAI funding after concerns over Delaney loan
Sport Ireland confirmed the withdrawal of any continued funding to the Football Association of Ireland (FAI) following a breach of Sport Ireland’s Terms & Conditions of Grant Approval.
The Irish governing body made the announcement following the fallout arising from a loan by John Delaney, The FAI’s Executive Vice-President and former Chief Executive. Delaney was said to have loaned the association €100,000, “to help it through a short-term cash flow problem, which has since been repaid.”
Sport Ireland announced the FAI did not comply with Clause 4.3 of Sport Ireland’s Terms & Conditions of Grant Approval, which says that organisations must ‘notify Sport Ireland in writing without delay in the event of any material deterioration in its financial position or of any other matter which may jeopardize the organisation’s overall financial viability.’
Delaney and other FAI officials will appear before an Irish parliamentary committee hearing today.
Visit here, to see Sport Ireland’s official statement