The Government has announced a financial rescue package for the FAI.
Sport Ireland will restore funding for football development programmes of €2.9 million annually, doubling this amount to €5.8 million each year from 2020 to 2023
An interest -free loan of €2.5 million each year from 2020-2022 will also be provided.
The Board of the FAI welcomes today’s announcement by Sport Minister Shane Ross on a joint plan to safeguard the future of Irish football.
Commenting on the agreement, FAI Independent Chairperson Roy Barrett said: “This agreement is vital for Irish football and allows us to take the first steps in the rebirth of our sport.
“We can now progress with our plans to restructure and rebuild the Association and do what is best for our staff, our players and all our stakeholders with minimum disruption for Irish football.
He added: “On behalf of the Board and the Association, I would like to thank all our partners for their support and their commitment to the future of our game and we look forward to working with them, our staff and our stakeholders to bring this plan to fruition.”
Minister Ross said: “Today we are marking a new dawn for Irish football.
“It has been a difficult journey to get to this place, where we can finally heave a sigh of relief knowing that Irish football has a secure future. “
He added: “We can now look forward to a rigorous rebuilding of the FAI from a toxic, autocratic, unfit-for-purpose organisation to a fresh, cleansed association that can honourably represent and support Irish football, at home and also on the world stage.
“Of course there are many reforms still to come. Crucially, the financial assistance we announce today is absolutely conditional on these reforms being implemented.
“This is not a bailout by any standard.”