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FAI will have to restructure or face winding-up, says expert


SSE Airtricity, one of the main sponsors of the Football Association of Ireland (FAI), will meet officials from the organisation this week, it is understood.

The meeting comes against the backdrop of ongoing corporate governance issues at the under-pressure sporting body, which the company has said it views as a “matter of serious concern”.

A well-placed source said the meeting was called to discuss the company’s ongoing sponsorship in the context of what has emerged from the FAI in recent weeks. SSE Airtricity sponsors the domestic football league and is the energy partner of the international team.

Its sponsorship deal expires at the end of 2020.

The FAI’s shirt sponsor, Three Ireland, last week said it would not be renewing its deal when it expires next July.

The outgoings are about €4 million a month, and it’s hard to see how they can fund that without new money coming in

The FAI, which will appear in front of an Oireachtas committee on Wednesday, last week revealed it has liabilities of €55 million. It released financial results for 2016, 2017 and 2018 which dramatically revised downwards its performance in those years, prompting speculation about its ongoing viability.



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