John Foley has chosen not to take up an appointment as new interim CEO of the FAI.
The former Athletics Ireland chief executive had agreed to replace Noel Mooney, whose term in charge ended over the weekend.
However, it has emerged that Foley has decided against taking up the position at the last minute.
The organisation has been in crisis since details of a €100,000 loan given by its former Chief Executive John Delaney emerged.
Funding from Sport Ireland has been suspended for a number of months.
The Board of the FAI said it regrets his and is to meet to discuss the next step.
The board said: "Throughout our dealings with John, his suitability for the role was beyond question and the level of professionalism and clarity he could bring to the Association would have been invaluable.
"John’s experience and influence will be especially missed by our staff who would have benefitted greatly from his arrival."