Live

Repeat: Off The Ball

02:00 AM-05:00 AM

Repeat: Off The Ball

Soccer

"A difficult three months" | FAI chief on cash flow problems and redundancies

Ciaran Bradley
Ciaran Bradley

17:30 5 Apr 2020

Interim FAI CEO Gary Owens has spoken of the difficult financial situation the organisation is in, but that there 'more up sides than down sides'.

After confirming Stephen Kenny's backroom staff on Sunder, Owens spoke to Off The Ball about the wider issues of debts surrounding the organisation.

Owens was unmoved by concerns of outstanding debts to McCarthy should Ireland qualify, saying that the Euros would be 'lucrative' for the FAI should they make it into the competition.

"Our immediate problems are going to be cash flow up to September, given that a lot of activities at all levels are not happening, for very good and understandable reasons," he said.

"The nine matches are helpful, though. We now have nine matches in the autumn period, so that gives us a chance to reach out to fans and put a new team in place to start looking at Club Ireland tickets, selling season tickets and look at our whole TV and media rights.

"We have got an awful lot to look forward to - we are going to have a difficult three months - but a lot depends on unknowns as to when football can resume again."

As for what those unknowns mean in real terms, Owens spoke of the measures being put in place to try and save the 200 jobs that the FAI currently have all over the country.

"We have announced deferrals which, to be fair to the staff, they were very supportive of. That gets us through a difficult period until we can resume activities like international matches.

"The summer schools and coaching that we do is actually quite lucrative, and we cannot do that at the moment. So, we need to manage carefully to August and September.

"The staff have been hugely supportive; I have been hugely impressed by the quality of the people on the ground. They do a great job."

FAI financial planning

As for the holistic view of FAI financing, Owens believes that the organisation are in a better position than first feared.

"We assumed that we wouldn't qualify," he said of how the financial repayment structures have been put in place.

"The debt was in excess of €50m and you have the stadium debt, which I don't really regard as a debt because if we were to rent the Aviva it would cost us more to pay back, so that was a bit of a red herring.

"The rest of it, we basically borrowed and we're refinancing and we have a good plan in place now to repay that debt and keep the association going in the way that we want to.

"We are going through the middle of a refinancing programme at the moment and we have committed to key stakeholders that there won't be any compulsory redundancies.

"We are not looking to cut the numbers by a large amount, if at all. The plan that we had was very pessimistic, we had a lot of contingencies in it.

"All the things that I have seen so far. leaving aside the virus, have been more on the up side than the down side."

Subscribe to Off The Ball's YouTube channel for more videos, like us on Facebook or follow us on Twitter for the latest sporting news and content.


Read more about

FAI Football Soccer

Live: Title

Description

Added to queue
Removed from queue

On Air

Share

Share

Next up in queue

Title
Description
Duration

There are currently no podcasts in the queue

Go to podcasts

On Air

Repeat: Off The Ball

Repeat: Off The Ball

02:00 AM-05:00 AM

Share

Up next

Repeat: OTB AM

Repeat: OTB AM

05:00 AM-07:00 AM

Share

Highlights on Off The Ball

Highlights on Off The Ball

07:00 AM-07:30 AM

Share

LIVE: OTB AM

LIVE: OTB AM

07:30 AM-10:00 AM

Share

State Of The Union

State Of The Union

10:00 AM-11:00 AM

Share

Repeat: OTB AM

Repeat: OTB AM

11:00 AM-12:00 PM

Share

Richie’s Isolation Mix

Richie’s Isolation Mix

12:00 PM-01:00 PM

Share

OTB Gold

OTB Gold

01:00 PM-02:00 PM

Share

Highlights on Off The Ball

Highlights on Off The Ball

02:00 PM-05:00 PM

Share

OTB

OTB

05:00 PM-06:00 PM

Share

OTB Gold

OTB Gold

06:00 PM-07:00 PM

Share

LIVE: Newsround

LIVE: Newsround

07:00 PM-07:30 PM

Share

LIVE: John Giles

LIVE: John Giles

07:30 PM-08:00 PM

Share

LIVE: Off The Ball

LIVE: Off The Ball

08:00 PM-09:00 PM

Share

LIVE: The Football Show

LIVE: The Football Show

09:00 PM-10:00 PM

Share

LIVE: Off The Brawl

LIVE: Off The Brawl

10:00 PM-11:00 PM

Share

Repeat: Off The Ball

Repeat: Off The Ball

11:00 PM-12:00 AM

Share

Repeat: OTB AM

Repeat: OTB AM

12:00 AM-02:00 AM

Share

Repeat: Off The Ball

Repeat: Off The Ball

02:00 AM-05:00 AM

Share

00:00:00 / 00:00:00

Share on