FAI to avoid insolvency after...

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FAI to avoid insolvency after EGM backs governance changes

Richie McCormack
Richie McCormack

09:20 31 Aug 2020


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The FAI will avoid insolvency after members voted in favour of governance changes at an EGM. 

With a two-thirds majority required, an overwhelming majority voted in favour of the memorandum of understanding between the association and the government.

It effectively means that €35million in state funding will now be made available to the cash-strapped FAI.

114 of the 123 delegates polled remotely backed the necessary governance changes. 8 voted against, and one abstained.

Independent FAI chairperson Roy Barrett told OTB Sports after the EGM that he was very pleased with how the meeting had gone.

"It's been a long process," Barrett said, "And there's been a lot of discussion and debate. It certainly raised emotions; some parts of the memorandum clearly has.

"A night like tonight is a really positive thing, and it's a really positive thing that there's such a strong endorsement of the changes.

"People have accepted them. It's good for the organisation, and it's particularly good for the staff of the organisation who have clearly been worried. So thankfully that worry is now put to bed."

Barrett says the vote means the FAI has avoided a "very perilous" financial situation.

"What it means to the staff is they now have a certainty of an outcome," Barrett added, "They don't have the cloud of whether the MoU would be passed or not, with all of the implications that that would have brought.

"So now they can move on, and have certainty in their roles and responsibilities. And hopefully we'll all move on together now."

Barrett also dismissed the "conspiracy theories" regarding his appointment as independent chairperson, and the role of Patrick Kennedy in that appointment.

 


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