FAI stick with debt deadline

The FAI remain certain they will clear their €63 million debt pile by 2020, despite the bleak picture presented in their latest set of accounts.

Delegates yesterday received a copy of the figures, to year-end 2012, ahead of the association’s Annual General Meeting in Arklow on July 20.

The FAI’s failed premium Vantage ticket scheme forced them to borrow heavily to fund their €72m portion of the 2010 Lansdowne Road stadium redevelopment costs. And the huge debt caused the association to fork out bank interest payments in 2012 of €4.8m — the same amount as the previous year.