Breaking News

FAI rescue package revealed

An interest-free €2.5m annual loan to the Football Association of Ireland is not a Government bailout, the Minister for Sport has said.

The Irish government announced on Thursday it will double its funding and give the FAI an interest-free loan of €2.5m annually for the next three years as part of a refinancing arrangement to help save the organisation.

The FAI has debt of more than €62m.

Minister for Sport Shane Ross has met with representatives from UEFA, the FAI and Bank of Ireland in Dublin to address the organisation’s debt.

Speaking in Dublin, Mr Ross said: “Of course there are many reforms still to come. Crucially, the financial assistance we announce today is absolutely conditional on these reforms being implemented.

“This is not a bailout by any standard.”

More to follow…

Soccer Saturday Super 6

FREE TO PLAY: Do not miss your chance to land the Super 6 jackpot for the sixth time this season.

Source link