Off the Ball understands that there is 'no deal' right now between the FAI and the Government over a bailout for the financially troubled Association.
The Irish Daily Mail reported this morning that a provisional agreement had been reached between the Association and both the Government and the banks over the €18 million that is required to keep the indebted Association as a going concern. It was also reported that the announcement of four independent directors was imminent.
According to the Irish Independent, the Government is keen to see the appointment of the four independent directors in the first instance before talks can begin over the financial restructuring of the Association.
As UEFA have already underwritten the FAI's finances to the tune of over €20 million, it's understood that the state will be the primary agent to keep the FAI in business, which would safeguard the international team's participation in international tournaments and the involvement of League of Ireland clubs in European competitions.
However, while the consensus seems to be that Irish football is too big to fail, it's believed there are many hurdles to be negotiated before a rescue package is confirmed.
The FAI's total liabilities are estimated to be over €60 million.
