The FAI have this evening released a statement and bank statements to clarify their position in regards to the payment they received from FIFA after the 2010 World Cup play off elimination by France.
In the statement the FAI clarify that they met representatives from FIFA on two occasions before the loan was offered. Both sides met 11 days after the Paris game in 2009 and in January of the following year. The loan was agreed upon on January 15th 2010.
"FIFA offered the FAI a €5m interest free loan by way of compensation as well as a $400,000 Goal Project grant that was used for FAI Regional Football Centres.
The €5m was lodged into the FAI's National Irish Bank deposit account on Jan 20, 2010.
The €5m loan was accounted for in the 2010 audited financial statements, under Bank and other Loans.
This funding was used to make payments to New Stadium Ltd (trading name for Aviva Stadium management company) on February 25 and March 26 of 2010, totalling €6,772,711.25.
The FAI sought a €5m write-down from FIFA on numerous occasions in the period following the agreement.
In 2011, the loan was reduced to €4m. This transaction was reflected in our turnover figure of €45m in that year's audited accounts. The balance of the loan remained disclosed within Bank and other Loans. In 2013, the remaining €4m was reduced to nil as a result of non-qualification for the World Cup South Africa in 2010 and the World Cup Brazil in 2014. This was subsequently confirmed in writing by FIFA on June 13, 2014. This transaction was accounted for in the FAI's 2013 audited accounts."
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