Tuesday 28 March 2017

FAI boss Delaney's furniture firm lines up healthy profit

Good business: FAI chief executive John Delaney
Good business: FAI chief executive John Delaney

Brian McDonald

The FAI may have debts of €51.2m but its chief executive's finances appear to be in a healthier position, according to accounts filed to the Companies Registration Office (CRO).

John Delaney, who is reportedly paid around €400,000 per annum by the FAI, is also a director of a furniture business in Athlone, in which he owns two-thirds of the shares.

Gerfurn Ltd was set up in 1987 before Mr Delaney (47) became a director of the company in July 2000. The firm's other director is Gerard Moran, who has held the position since the company was established and owns the remaining third of the shares.

The furniture business reported accumulated profits of €243,312 in its most recent accounts for the year ending 31 March 2013, and tangible assets valued at €524,295.

It was owed €109,650 from debtors at the end of the accounting period, while debts of €32,386 were scheduled to fall due within one year.

FAI delegates received annual accounts for the governing body earlier this week, ahead of its annual general meeting on July 18. The accounts, covering the period to year-end 2014, revealed debts of €51.2 million.

The document included reference to John Delaney's confidential €5m deal with FIFA arising from Ireland's World Cup play-off defeat to France, which was converted from a loan to income at the end of 2013.

Mr Delaney was formally appointed chief executive of the FAI in March 2005, having previously held the role in an acting capacity since December 2004.

Prior to this, he had been treasurer of the organisation since 2001. His father, Joe Delaney, previously held the same position.

Mr Delaney previously defended his lucrative salary, revealing he had turned down a job that offered him three times more. However last month he was urged to take a voluntary 50pc pay-cut in his wage by Tom Fleming TD, a member of the Oireachtas sub-committee on sport which was expected to call Mr Delaney to Leinster House to explain the controversial FIFA payout.

Mr Fleming wanted Mr Delany to bring his wage into line with Taoiseach Enda Kenny's salary.

Irish Independent

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