EXCLUSIVE: FAI ready to answer...

Soccer

EXCLUSIVE: FAI ready to answer Sport Ireland questions on €100,000 bridging loan

Ciaran Bradley
Ciaran Bradley

09:56 8 Apr 2019


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Sport Ireland have today written to the Joint Committee on Transport, Tourism and Sport explaining that they met the FAI in a meeting "convened at very short notice", to discuss matters raised in last week's Oireachtas committee appearance.

Chief Executive of Sport Ireland, John Treacy, writes the letter to the committee following his appearance last week, in which he refused to say that he had confidence in the current FAI board.

The FAI today confirmed that they are employing professional services Grant Thornton "to go through the relevant accounts to assure Sport Ireland that all Government funding has been properly spent since the last Sport Ireland audit of the FAI."

In the letter, seen by Off The Ball, Sport Ireland's chief executive John Treacy outlines that the two parties have agreed on a series of actions with regard to the loan itself, and broader concerns over FAI corporate governance.

These include:

  • The outcome of Grant Thornton's ongoing internal review of the FAI's books will be provided to Sport Ireland
  • The Terms of Reference for the review by global audit, accounting and consulting group Mazars will be provided to Sport Ireland once they are finalised
  • Sport Ireland will be consulted by Mazars as part of their review process
  • Mazars' full and final report will be provided to Sport Ireland 'in a timely manner'
  • The review by consultant Jonathan Hall & Associates will be provided to Sport Ireland
  • The FAI will discuss the makeup of their new Governance review group with Sport Ireland

Treacy also reveals that the FAI informed Sport Ireland that they are co-operating with the Office of the Director of Corporate Enforcement on their inquiries that Treacy understands to be 'substantial'.

Treacy goes on to confirm that all information as to the situation is being circulated to the Chairman of the committee and its members.

For more on the correspondence between the FAI and Sport Ireland, read our exclusive story into their letters between the initial breaking of the loan story to the day of the meeting between the two on 5th April.

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