FAI officials vote ‘strongly in favour’ of €50 million rescue deal

Updated 20.35

SENIOR FAI OFFICIALS have voted to accept new banking terms as part of the €5o million rescue deal for Irish football.

The 79 members of the FAI Council had been due to meet today in the Castleknock Hotel to approve the terms of the financial restructuring, but instead voted by email in light of the Covid-19 coronavirus pandemic.

All of the votes received were in favour of the proposal, with FAI chairperson Roy Barrett welcoming the news as “a major step forward for our game”.

“The Senior Council of the Football Association of Ireland today voted strongly in favour of accepting a new funding proposal as proposed by the Board of the FAI,” an FAI statement said.

“The vote was taken by email in light of the current Covid-19 crisis, with the votes collated and counted independently by Grant Thornton. All votes taken were in favour of accepting the proposal.”

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Barrett said: “The vote today in favour of new borrowing terms for the FAI with our Bank represents the completion of phase one of the rescue plan for the Association and is a major step forward for our game.

“With our new banking facilities ratified by Senior Council, we can now progress with Sport Ireland to the reinstatement of government funding and the enactment of a new constitution that meets the needs of all stakeholders and supports the positive development of the game in Ireland.”