And of course there a wedding to be paid for,
I know the guy who structured the financing and he did it in such a way that the loan repayments are greater in years ending in odd numbers as we have more home qualifiers and hence guaranteed revenues in these years.
I know he spent ages with John’s finance team modelling the numbers and testing the sensitivities and fought very strongly to get the deal approved by a risk averse credit committee wary of the potential of the team’s fortunes declining and attendances and revenues falling off a cliff.
Naturally he included a waterfall provision whereby any additional lump sum payments received arising from tournament qualification will PARTLY go towards early debt repayment.
He could have insisted on all of it but he’s a football man himself and allowed the FAI to ringfence some of this cash to go towards supporting our clubs and grassroots. We saw this after Euro 2016 in the work done in the likes of Oriel Park, United Park, sorting out the Ferrycarrig Park ownership situation after Mick’s troubles and so on.
It’s great to think that the national team’s success will filter down to clubs all around the country. John’s vision and steadfastness is really admirable.
Irish Football,where do we go now?
That was hardly the same lad that counts the lotto balls ? Was it ?
no, its the lad who sticks the numbers on them
Great to see John spending the day in Turner’s Cross yesterday and eschewing the high profile play-off draw in Zurich.
He could smell the compensation claim a mile away.
The cork city cunts then spent the night abusing Mr Delaney and the FAI . Utterly disgraceful behaviour .
he made their poxy little club
Eaten bread …
This is unreal!! a christmas event, networking, the shelbourne & John Delaney all rolled into one.
I will have to attend.
Corporate Finance Conference 2017
Deal or no deal?
Time 7.30am (registration and breakfast)
Venue The Shelbourne Hotel, Dublin 2
We are delighted to invite you to our annual Corporate Finance conference.
2017 has seen our economy recover to pre-recession levels resulting in increased entrepreneurial and M&A activity. Our conference will review the successes and lessons learned from a busy 2017.
We will also look forward to what 2018 has to offer from a funding and M&A perspective.
This year we have a variety of discussions and presentations including:
? Keynote speaker: John Delaney, chief executive of the Football Association of Ireland.
? MBO panel discussion
? Grant Thornton market update
? Fireside chat: We will hear from Pete Smyth, Broadlake and Michael Hoynes, Meryln who will discuss their recent €67.5m deal.
FAI staff members have accused the association’s chief executive John Delaney of reneging on repeated commitments to reverse pay cuts imposed on them in 2011 and 2012, at a time of acute financial difficulty for the organisation.
Those employed as development officers at the time had salaries of just over €40,000 cut first by 5 per cent in 2011, then by 10 per cent in 2012. Pension contributions and basic expenses such as mileage for employees often doing significant amount of travel were also affected.
In documents seen by The Irish Times, firm commitments were given that the prior levels of pay would be restored at some point. In the case of the 2012 pay cut, Delaney clearly stated that the reduction would only have to be endured for a period of 18 months.
Instead, in early 2014 he wrote to staff again, stating: “We have continued to trade through a very difficult economic climate since the introduction of these measures.” He committed, however, “to communicate to you by mid-March the position in relation to when the pay and pension contributions restoration will happen this year.”
The restoration did not happen that year, though, nor in any since. Staff did receive a 3 per cent pay rise in 2016, but ill feeling over the wider issue has endured. Delaney wrote to staff on Friday to inform them that the association’s board had now decided to offer them increases of 2.5 per cent in 2018 and 2019, although the latter is contingent, it seems, on the association achieving certain unspecified performance targets.
The association appears to be acting on a report delivered over the last few days by independent facilitators Peter McLoone and Ned O’Connor, who became involved in the dispute after Siptu had initially said that it intended to have the matter resolved at the Labour Court.
In addition to the two-stage 5 per cent rise, the pair suggest affected staff receive a one-off lump sum amounting to 5 per cent of annual salary “in full and final settlement” of other outstanding claims relating to the pay cuts. That, however, would mean that 7 per cent of the pay cuts would effectively not now be restored.
“All we are looking for is what we were promised,” says one affected member of staff. “Delaney is on record; it’s all there black and white. We were asked to help because the association was in a bad way and we did that, but we were promised the previous levels of pay would be restored. We just want that restoration.”
Around 90 development officers, many of them part-funded by local authorities or other sports- and youth-related organisations, are employed by the association. Those who have been there since the original cuts will have lost more than €30,000 in gross pay over the six years. Siptu members who are affected will be balloted on the association’s offer over the next couple of weeks.
There is clearly anger, though, at what was seen as a firm promise being broken despite the money received by Uefa for television rights and Euro 2016 qualification, and repeated claims in public by Delaney, whose own income has increased substantially as a result of his election to the European body’s executive committee, that the organisation is indeed in a far stronger position now.
The IT with another hatchet job on John, it’s boring at this stage of the game. They continued to pay Tom Humphries a full salary long after he was exposed as a nonce it should also be noted.
Tonight and Tuesday are massive nights for John . Get through and he is grand , if not he will be a target for the media . All the players and MON will be back on the mainland .
Now that, is whataboutery of the highest order.
Tough one for the Rastoolers here, do they support Cowboy Delaney or the working man?
The lefty headbangers will have a serious job of work on their hands twisting this one.
Delaney is a scumbag.
Delaney is one of Ireland’s greatest sportsmen.