John Delaney at the FAI Thread - (Mod Notes in OP)

dreamers75 · 06-12-2019 03:49PM

sugarman wrote: »

I still don't entirely understand why Delaney was paid off.

If it was me or you, we'd be have been sacked for continuously doing a poor job and/or gross misconduct and possibly even fraud.

If as it looks like he never got a pay cut but actually got a BIK increase (rent etc) and the accounts did not reflect this, he could be facing the revenue soon.

They aint one for fcuking about if its true.

Dots1982 · 06-12-2019 03:51PM

howiya wrote: »

Well the point of the press conference was to present their accounts. They wouldn't have audited accounts for 2019 yet.

Per the Irish Times;

"The accounts reveal that the organisation has net liabilities at the end of 2018 of €55 million. Since then, the association has had negative cashflow, meaning the financial situation has worsened. The accounts note that “continuous financial support from Uefa” has enabled it to continue operating."

Really? Holy ****. Apologies.

dundalkfc10 · 06-12-2019 03:51PM

dr.kenneth noisewater wrote: »

The Sport Ireland report was sent on to them already

What criteria are they supposed to get when giving grant money?

I would assume one of them is an outline of where money will go and current financial health, giving grants to an association to pay bills or directors wouldnt be one im sure

asteroids over berlin · 06-12-2019 03:52PM

this is farcical, somebody needs to go to jail for this :eek:

artanevilla · 06-12-2019 03:54PM

John Delaney, July 2018

"We owe €29.5 million to our banking partner. Next year it will be less than 20 and if we choose to make it debt-free by 2020 that will be the case. That's the message for today."

yabadabado · 06-12-2019 04:06PM

awec wrote: »

90k cash, the rest of it in a big pension payout.

About 3 months pay .

I dont think they have any real choice with pension due to a few cases won by people in the past.

Father Hernandez · 06-12-2019 04:08PM

So what happens now?

Legal action?

Completely unprecedented I imagine, could the FAI fold?

LOI break away from FAI?

New company set up?

mirwillbeback · 06-12-2019 04:09PM

The same is happening in a LOI club near me. I emailed journalists and also sent proof to Prime Time but nothing being done.

Football is a deck of cards waiting to collapse in Ireland.

awec · 06-12-2019 04:21PM

sugarman wrote: »

Its all up the air it seems.

As pointed out, these are just the end of year figures for 2018 and dont include the additional €15m loans from UEFA as well as any further debt built up in that period.

Its hard to see where they go from here, circa €70m in debt... they've no assets as such to sell, sponsors are pulling out, government funding still frozen.

I dont see how they can get out of this alive unless their share off the Aviva is sold and an absolutely massive restructuring job from top to bottom.

Either way, Irish football is going to feel the effects of it for a very, very long time.

Does the FAI own Abbotstown?

NIMAN · 06-12-2019 04:21PM

Delaney should move somewhere very far away.

The man should be ashamed to show his face in the country after this. He deserves every single bit of stick and abuse he gets for this.

Absolute chancer of the highest order. Ruined Irish football for years.

Zebra3 · 06-12-2019 04:22PM

dreamers75 wrote: »

If as it looks like he never got a pay cut but actually got a BIK increase (rent etc) and the accounts did not reflect this, he could be facing the revenue soon.

They aint one for fcuking about if its true.

Revenue are great for cutting a deal. He has no real worries there.

Up to other departments within the state to look about bringing charges.

NIMAN · 06-12-2019 04:24PM

Are the fans going to have to have a whip round to pay for the team to go to the playoff game?

Zebra3 · 06-12-2019 04:24PM

sugarman wrote: »

I still don't entirely understand why Delaney was paid off.

If it was me or you, we'd be have been sacked for continuously doing a poor job and/or gross misconduct and possibly even fraud.

Gonna take an educated guess here.

Get him out. Get him out from influencing others within the organisation.

Get him out for as low a possible figure.

Get people to rat on him.

Hope that criminality is found and then you can sue him to recover some of that money.

NIMAN · 06-12-2019 04:26PM

Sad thing is, there is probably nothing criminal done here, just bad management.

Unfortunately we can't jail people for bad management.

The fella is probably minted and will never have to worry about money given the size of his salary for many years, plus his pension pot.

Really angry today that it was allowed to get to this level.

He was allowed to say "we are 20mill in debt" when he was likely 50mill. What makes a person lie to that extent and think they will never be found out?

Umaro · 06-12-2019 04:28PM

What's the root of all this debt? The Aviva stadium?

He really fecked things up with that Vantage Club thing.

artanevilla · 06-12-2019 04:29PM

NIMAN wrote: »

Sad thing is, there is probably nothing criminal done here, just bad management.

Unfortunately we can't jail people for bad management.

The fella is probably minted and will never have to worry about money given the size of his salary for many years, plus his pension pot.

Really angry today that it was allowed to get to this level.

He was allowed to say "we are 20mill in debt when he was likely 50mill". What makes a person lie to that extent and think they will never be found out?

Filing incorrect accounts is criminal.

secman · 06-12-2019 04:31PM

Zebra3 wrote: »

Revenue are great for cutting a deal. He has no real worries there.

Up to other departments within the state to look about bringing charges.

Revenue have already been in touch and as far as i know its been settled hence the 2017 Accounts being Restated and also why the 2018 were re adjusted from what they initially looked back in July when they were not signed off on.

NIMAN · 06-12-2019 04:34PM

artanevilla wrote: »

Filing incorrect accounts is criminal.

Lets hope the fact that the accounts were given to the Gardai before being released with bring some justice.

Someone needs to answer for this mess.But its Ireland, so I won't bet on anyone being held to account.

Father Hernandez · 06-12-2019 04:39PM

NIMAN wrote: »

Lets hope the fact that the accounts were given to the Gardai before being released with bring some justice.

Someone needs to answer for this mess.But its Ireland, so I won't bet on anyone being held to account.

Unfortunately you're probably right.

u140acro3xs7dm · 06-12-2019 04:43PM

sugarman wrote: »

Nope.

Who does?

Do they have any actual assets other than a lease on half of Landsdowne?

06-12-2019 04:45PM

Remember when Delaney was touching himself with the excitement of making 5 million off the back of the Thierry handball?

To think it was less than 10% of the debt that the FAI was left with after his reign.

You'd wonder whether it was all an act or whether he was so deluded, so surrounded by yes men, that he really thought it was a triumph.

Kingp35 · 06-12-2019 04:52PM

secman wrote: »

Revenue have already been in touch and as far as i know its been settled hence the 2017 Accounts being Restated and also why the 2018 were re adjusted from what they initially looked back in July when they were not signed off on.

Well the FAI made a voluntary disclosure of underpaid taxes. As per the Irish Times:

The accounts also reveal that there was a voluntary disclosure of underpaid employment taxes and VAT, plus interest and penalties, of €2,712,721 for the years 2015-2018

As it was a voluntary disclosure, this does not mean that they are in the clear with Revenue, there could very easily be more taxes owed.

Nunu · 06-12-2019 04:57PM

Umaro wrote: »

What's the root of all this debt? The Aviva stadium?

He really fecked things up with that Vantage Club thing.

And €74m Stadium debt could have been cleared from the offset in 2008. Offered €75m from ISG for the premium level for 10 years. Turned it down and instead got ISG on board for their own sales giving them commission!

Nauseating stuff.

Mahony0509 · 06-12-2019 05:01PM

The LOI needs to break away from the FAI immediately. The winner of the LOI gets just 25% of the payoff Delaney got. A scumbag of the highest order.

Zebra3 · 06-12-2019 05:01PM

sugarman wrote: »

The Government / Sport Ireland AFAIK.

Its a shared campus with multiple Irish sporting bodies.. the FAI are just one of them.

I dont believe they have any other assets aside from their lease of the Aviva, they sold their old HQ in Merrion in the mid 2000s.

I think they own or partly own some LoI clubs grounds. (Cobh? Drogheda?).

Minor stuff on the financial scale of things though.

irishgeo · 06-12-2019 05:04PM

Nunu wrote: »

And €74m Stadium debt could have been cleared from the offset in 2008. Offered €75m from ISG for the premium level for 10 years. Turned it down and instead got ISG on board for their own sales giving them commission!

Nauseating stuff.

Thats the root of all the problems right there.

cmac2009 · 06-12-2019 05:10PM

Deloitte have stated they were unable to attain all the required information and explantions necessary to complete the audit. Furthermore, they cannot confirm the veracity of the directors reports. So does that mean that this diabolical set of accounts is probably worse than they've reported.?

Also, were they the auditors throughout this period? Who signed off on the accounts for 2016/2017. Time and time again we see this with company audits, seems like such a sham.

Zebra3 · 06-12-2019 05:12PM

joeguevara wrote: »

Firstly Shane Ross is as corrupt as can be....have a look at his record of denying any government aid to public schools or sports clubs in his constituency but paying for a hockey pitch for private school Wesley who has better sports facilities than anywhere else. Or as transport minister completely distanced himself from the new bus routes saying it was nothing to do with him even though he signed off on the whole thing.

You say that the government needs to stand on the throat of the FAI. The government is the issue and is as corrupt as any semi state. Do you think the public would have any faith in them being a watch dog especially with gatekeepers like Ross.

The FAI has to rid itself of the past. But it has to do so legally. Delaney was an employee and if shafted would have taken them for millions. Bit late now Ross writing hyperbole.

The FAI will get there. The team is getting better and the last thing it needs is politicians interfering.

Penny for your thoughts today, Joe.

yabadabado · 06-12-2019 05:20PM

cmac2009 wrote: »

Deloitte have stated they were unable to attain all the required information and explantions necessary to complete the audit. Furthermore, they cannot confirm the veracity of the directors reports. So does that mean that this diabolical set of accounts is probably worse than they've reported.?

Also, were they the auditors throughout this period? Who signed off on the accounts for 2016/2017. Time and time again we see this with company audits, seems like such a sham.

Not too sure the auditors can be blamed ,if the FAI are hiding money etc is there much an auditor can do?
If it's not accounted for or disclosed anywhere how can it be found ?

dreamers75 · 06-12-2019 05:33PM

yabadabado wrote: »

Not too sure the auditors can be blamed ,if the FAI are hiding money etc is there much an auditor can do?
If it's not accounted for or disclosed anywhere how can it be found ?

They can audit and notice money is missing.

John Delaney at the FAI Thread - (Mod Notes in OP)

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