FAI receive greater slice of grants than GAA
Published 16/12/2011 | 05:00
THE FAI received €3.9m in government grants last year, according to accounts just filed with the Companies Office.
That's just €86,000 less than the €3.98m the GAA got over the same period. As a proportion of income, the FAI actually gets more help from the government than the GAA.
Grants from the Sports Council of Ireland, the Department of Foreign Affairs, and other bodies adds up to almost 10pc of the FAI's income -- compared to 7pc for the GAA.
The news will come as a surprise to many because the GAA is often thought to be in a league of its own when it comes to accessing state funds.
The FAI's full accounts, just filed with the Companies Office, confirm that turnover fell by 20pc to just under €40m in 2010, down from €50m the year before.
Gate receipts were hit when international fixtures returned from Croke Park to Lansdowne Road -- indeed accounts filed by the GAA earlier in the year show their coffers lost €9m when major soccer and rugby fixtures moved out of Croke Park.
the accounts show that the FAI had a modest operating surplus last year before a property write down. However, its cash balance had dropped to nothing by the start of 2011 and an overdraft shot up from €2.44m to €4.16m.
Net debts stood at €63m at the financial year end, mostly accumulated as a result of the €400m Lansdowne Road redevelopment.
In 2010, 179 FAI staff shared pay of €13.1m -- down only slightly from €13.4m the previous year, despite the loss of 18 jobs. Redundancy costs were €269,804.
The cost of employing chief executive John Delaney dropped to €431,687 from €450,666.