Delaney in line for €3m loyalty bonus had he remained at FAI until 2021

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Delaney in line for €3m loyalty bonus had he remained at FAI until 2021
Delaney in line for €3m loyalty bonus had he remained at FAI until 2021

But the controversial football chief will not receive the payment, and his severance package was in region of €462,000.

Mr Delaney was originally contracted to receive a €2m loyalty bonus, but this was increased by €1m when his contracted was renegotiated in 2014.

The money was to be paid to Mr Delaney over a 10-year period after 2021, and was not conditional on him still working for the FAI beyond that date.

The new details of Mr Delaney’s contract come as the FAI board prepares to release its annual accounts today.

As revealed in the Irish Independent this week, Mr Delaney received €370,000 in pension-related pay and a notice payment of three months’ wages, which came in at €90,000.

Refusal: John Foley declined to take over as FAI interim CEO. Photo: SPORTSFILE

Refusal: John Foley declined to take over as FAI interim CEO. Photo: SPORTSFILE

Refusal: John Foley declined to take over as FAI interim CEO. Photo: SPORTSFILE

It is also believed he received a further payment to cover his legal costs.

The audit of the FAI’s accounts by the Northern Ireland firm Kosi examined Mr Delaney’s contract, including the loyalty bonus he agreed with the association when he re-negotiated his deal.

FAI director John Earley previously said the ‘golden handcuffs’ payment was concealed from board members. Details of Mr Delaney’s severance package are expected to be detailed in the FAI’s annual accounts when they are released today.

There is increasing concern in Government over the state of the FAI’s finances and the organisations abilities to meet its financial commitments.

The main concern is the association will not be able to pay the money it owes relating to the Aviva Stadium.

During the summer, the FAI set a target of 2025 to be free of its €30m Aviva Stadium debt. However, Government and Sporting Ireland sources yesterday cast doubt over whether this could be achieved by the association.

Finances at Abbotstown have been strained over the past decade due to bank borrowings, which peaked at €70m.

The failure to sell a sufficient amount of 10-year premium-­level tickets increased the strain and resulted in job losses and pay cuts.

Uefa has been providing financial support to the FAI as it continues to deal with the fall-out from the investigations into its finances during Mr Delaney’s tenure as chief executive.

The Kosi report, which was commissioned by Sport Ireland, has been forwarded to gardaí and is being assessed by the Garda National Economic Crime Bureau.

Earlier this week, Sports Minister Shane Ross and Minister of State Brendan Griffin insisted the new FAI chief executive most be “completely independent of any present or previous involvement” with the association.

The two ministers made the comment after it emerged John Foley, a former chief executive of Athletics Ireland, had turned down the role of interim FAI chief executive.

“The FAI’s reform agenda needs to be strongly led in a manner that allows normality to return to football in Ireland as quickly as possible.

“The restoration of government funding can only follow such reform,” they said in a joint statement.

Mr Foley said he had been willing to join the FAI but believed his appointment would not have been supported by all the key stakeholders.

The controversy surrounding the FAI was sparked by revelations surrounding a €100,000 bridging loan Mr Delaney gave the organisation.

The controversy led to his resignation and resulted in several investigations in to FAI finances.

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Irish Independent

Source: Irish