THE FOOTBALL Association of Ireland made a €2.46 million profit last year from the sale of its former headquarters at 80 Merrion Square in Dublin, according to accounts just filed.
The building was sold on December 17th for a reported €8.7 million. The surplus noted in the FAI's accounts represented the excess over the €6.26 million book value of the property, and the deduction of legal and professional fees connected to the sale.
The FAI has moved its HQ to the national sports campus in Abbotstown, west Dublin.
The accounts show the FAI contributed €2.5 million last year to the company responsible for Lansdowne Road's redevelopment. Lansdowne Road Development Company (LRDC) - a joint venture with the Irish Rugby Football Union - spent €58.8 million in 2007, compared with €12.8 million in 2006. According to the accounts, LRDC got "matching . . . funding from the exchequer".
The FAI achieved a surplus last year of €4.27 million on turnover of €44 million. Income almost doubled due to strong revenue from games at Croke Park and a large payday from selling television rights to the European Championship qualifier against Germany.
The FAI had revenue reserves of €16.45 million at the end of last December, up from €12.17 million a year earlier.
The number of staff employed by the FAI rose to 145 from 104 in 2006. Total staff costs increased by 49 per cent to €10.5 million.
Directors' remuneration, including the salary of chief executive John Delaney, rose to €412,034 in 2007, up from €360,762 in the previous year.
