independent

Friday 18 April 2014

FAI confident on Aviva debt

General view of the new Avivia Stadium. Photo: PA

THE FAI claimed over the weekend that they are capable of paying back all the debts accrued from borrowing heavily to finance their commitment in the newly opened Aviva Stadium.

In two weeks' time, the FAI will present their 2009 accounts to their AGM in Wexford, which include an amount repayable over the next five years, which is in excess of €46m.

National Irish Bank are the FAI's main creditor, and interest repayments on the debt will increase the strain on the Abbotstown finances.

That's in addition to any further borrowings.

Nevertheless, an FAI spokesman said they will have repaid all of their stadium debt within 10 years.

That is despite the disastrous sale of 10-year tickets for premium seats at the Aviva Stadium.

Chief executive John Delaney has previously gone on record to state that selling 6,000 of the 10,000 Vantage Club berths represented a break-even point.

The FAI are well behind that target.

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