FAI...New Manager Hunt continues

[Main Street]

Yesterday was surreal. Ross and Griffin had no idea that if the FAI fold taking the LoI with it that we lose the national teams. Frightening stuff.

Aslo the Departments wheeze that the IRFU would buy the FAI out of LR was given short shrift. Whats in it for the IRFU?

Seeing that it's a government department, they should to be seen to explore all angles however unlikely before exploring the last live option.  And before exploring that last option, one could claim with authority that it was only proper that the IRFU be offered  first refusal (or whatever the term is).

But he explored tbe option before asking the FAI if that was a route they were even considering. Its not theirs to sell.

The FAI own 47% or so of the stadium. If the debt holders are in agreement, the IRFU could take over 100% ownership of the stadiuum
What debt holder would not agree to that?

In all probability the State could take ownership of the FAI's stake in the stadium as collateral for some sort of bailout.

[Baile Brigín 2]

Yesterday was surreal. Ross and Griffin had no idea that if the FAI fold taking the LoI with it that we lose the national teams. Frightening stuff.

Aslo the Departments wheeze that the IRFU would buy the FAI out of LR was given short shrift. Whats in it for the IRFU?

Seeing that it's a government department, they should to be seen to explore all angles however unlikely before exploring the last live option.  And before exploring that last option, one could claim with authority that it was only proper that the IRFU be offered  first refusal (or whatever the term is).

But he explored tbe option before asking the FAI if that was a route they were even considering. Its not theirs to sell.

The FAI own 47% or so of the stadium. If the debt holders are in agreement, the IRFU could take over 100% ownership of the stadiuum
What debt holder would not agree to that?

In all probability the State could take ownership of the FAI's stake in the stadium as collateral for some sort of bailout.

The IRFU already said no, as was blindingly obvious they would. Its supreme arrogance to hawk the FAI's assets without even telling them, nevermind asking them. It takes serious effort to become a bigger problem in resolving this mess than the FAI

[Main Street]

Yesterday was surreal. Ross and Griffin had no idea that if the FAI fold taking the LoI with it that we lose the national teams. Frightening stuff.

Aslo the Departments wheeze that the IRFU would buy the FAI out of LR was given short shrift. Whats in it for the IRFU?

Seeing that it's a government department, they should to be seen to explore all angles however unlikely before exploring the last live option.  And before exploring that last option, one could claim with authority that it was only proper that the IRFU be offered  first refusal (or whatever the term is).

But he explored tbe option before asking the FAI if that was a route they were even considering. Its not theirs to sell.

The FAI own 47% or so of the stadium. If the debt holders are in agreement, the IRFU could take over 100% ownership of the stadiuum
What debt holder would not agree to that?

In all probability the State could take ownership of the FAI's stake in the stadium as collateral for some sort of bailout.

The IRFU already said no, as was blindingly obvious they would. Its supreme arrogance to hawk the FAI's assets without even telling them, nevermind asking them. It takes serious effort to become a bigger problem in resolving this mess than the FAI

Afaia the 'sell the FAI stake' to the IRFU was first mooted months ago when Uefa first got involved and the FAI responded in the negative.
It's Uefa and others who have recently mooted the 'sell the aviva stake' option and the IRFU have responded in the negative to the media reporting, not to any supposed approach from anybody.
The only viable option is for the state to loan the FAI millions and take the Aviva stake as collateral. Then the FAI make the off payments  based on usage, say 40% of the gate money.

[Itchy]

Shane long going well for Southampton today and is back starting games. If mccarthy has that collins fella in the squad ahead of long he needs his head seen to.

[Baile Brigín 2]

Yesterday was surreal. Ross and Griffin had no idea that if the FAI fold taking the LoI with it that we lose the national teams. Frightening stuff.

Aslo the Departments wheeze that the IRFU would buy the FAI out of LR was given short shrift. Whats in it for the IRFU?

Seeing that it's a government department, they should to be seen to explore all angles however unlikely before exploring the last live option.  And before exploring that last option, one could claim with authority that it was only proper that the IRFU be offered  first refusal (or whatever the term is).

But he explored tbe option before asking the FAI if that was a route they were even considering. Its not theirs to sell.

The FAI own 47% or so of the stadium. If the debt holders are in agreement, the IRFU could take over 100% ownership of the stadiuum
What debt holder would not agree to that?

In all probability the State could take ownership of the FAI's stake in the stadium as collateral for some sort of bailout.

The IRFU already said no, as was blindingly obvious they would. Its supreme arrogance to hawk the FAI's assets without even telling them, nevermind asking them. It takes serious effort to become a bigger problem in resolving this mess than the FAI

Afaia the 'sell the FAI stake' to the IRFU was first mooted months ago when Uefa first got involved and the FAI responded in the negative.
It's Uefa and others who have recently mooted the 'sell the aviva stake' option and the IRFU have responded in the negative to the media reporting, not to any supposed approach from anybody.
The only viable option is for the state to loan the FAI millions and take the Aviva stake as collateral. Then the FAI make the off payments  based on usage, say 40% of the gate money.

Not true. The Department met the IRFU, nothing 'supposed' about it.

Logic would dictate that the LR asset is key here, but this is not how you go about it.

[macdanger2]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

[Baile Brigín 2]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

[shark]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

They are typical 999 years though, right?

[rrhf]

What would the rugby guys need to give to buy put their lease to rent it back to them unless it was hugely profitably and quick returning for them to do so in which case they are taking full gate receipts and seat incomes which are possibly partially spent already. How many games do Ireland play there a year 4or 5? Dosent add up without John Delaneys calculator... rugby has its own needs to look after. A longer term plan is that The fai needs to invest in a soccer team to compete in England Dublin wild rovers Fc. Work it into the prem over the next 10 years and put a professional 25 games a year in theat stadium. A professional outlet for Irish players based in Ireland keeping money at home. Unfortunately their fan base are spending all their money in England and Scotland. Everything else is a bailout with limited chance of return. 5 semi pro teams  feeding into the team. Basically and Ireland club team (not unlike the Provincial rugby model, but pro football in England or any European league of attraction. Has any other national football model went bust before?

[macdanger2]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

Hmmmm, are you saying it sounds like a good deal John?

[Baile Brigín 2]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

Hmmmm, are you saying it sounds like a good deal John?

Nobody is suggesting that it didn't make sense for the FAI to take equity in LR as opposed to a tenancy. The issue was Delaney trying to pay back the mortgage inside 12 years which led to ruination.

[Main Street]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

Hmmmm, are you saying it sounds like a good deal John?

Nobody is suggesting that it didn't make sense for the FAI to take equity in LR as opposed to a tenancy. The issue was Delaney trying to pay back the mortgage inside 12 years which led to ruination.

The issues were Delaney was corrupt, the FAI board sycophantic, the structure inept, the FAI were slow to market the  10 year tickets, too expensive, signed bad deals and could not adjust to radically changing economic times and uncertainty.

The  lifespan of the stadium is 50 years, the IRFU and the FAI share  the stadium until it has to be rebuilt. There is 40 years left  and that has an economic value.
Brian Kerr, long term critic of the cult of Delaney and the FAI board, called for a state intervention to bail out the FAI. I'd  say the FAI should not be bailed out, but could receives a state loan based on the collateral of their stake in the stadium and repayments be fixed and regular, Seeing as the FAI no longer have to pay the likes of Roy Keane 600kp/a to place training cones and engineer discontent, 1.2m for a hoofball coach  long term the FAI's finances are manageable with a prudent and competent board.

[Wildweasel74]

Was the treasurer of this fiasco not 70 odd, has he not to produce a end of Yr contract report on financial status, the way a gaa club would at their annual agm conference

[seafoid]

The FAI don't actually own any stake in the aviva, they have a share in the company which has a 60 year lease on it after which it returns to sole ownership by the IRFU. What a basket case

So like anyone who owns an apartment?

Hmmmm, are you saying it sounds like a good deal John?

Nobody is suggesting that it didn't make sense for the FAI to take equity in LR as opposed to a tenancy. The issue was Delaney trying to pay back the mortgage inside 12 years which led to ruination.

The issues were Delaney was corrupt, the FAI board sycophantic, the structure inept, the FAI were slow to market the  10 year tickets, too expensive, signed bad deals and could not adjust to radically changing economic times and uncertainty.

The  lifespan of the stadium is 50 years, the IRFU and the FAI share  the stadium until it has to be rebuilt. There is 40 years left  and that has an economic value.
Brian Kerr, long term critic of the cult of Delaney and the FAI board, called for a state intervention to bail out the FAI. I'd  say the FAI should not be bailed out, but could receives a state loan based on the collateral of their stake in the stadium and repayments be fixed and regular, Seeing as the FAI no longer have to pay the likes of Roy Keane 600kp/a to place training cones and engineer discontent, 1.2m for a hoofball coach  long term the FAI's finances are manageable with a prudent and competent board.

It depends on how much of its future income the FAI has already spent

[trailer]

An absolute shit show. What were the auditors at? Was it Deloitte?
They should just let it go to the wall, along with the leagues etc and allow something new and fresh to be born for the ashes.
Funny how Keane was widely critical of how the FAI was run when he was a player, yet happy enough to jump into bed with Delaney when it was his palm being graced. Keane was just a different side of the same coin.
There is also a huge section of the media who supported Delaney and his crew. They've questions to answer as well.