THE Football Association of Ireland had an operating surplus of almost £1 million for the 12 months to March 31st, the organisation said last night. Accumulated reserves now stand at £4.5 million.
"The operating surplus before grants for the year was £973,000," the FAI said. "This continued the favourable financial performance of recent years.
The association issued nearly £600,000 in grants to affiliates and clubs during the 1996-97 financial year, while development grants amounted to £297,000. Operating grants to affiliates came to £291,000, the FAI said.
The surplus retained at year end was £386,000.
"Among the highlights of the financial year was the success of the new ticketing system, in terms of both efficiency and control," the association said. "Ticket debtors from the Iceland and Macedonian matches amount to less than 0.1 per cent of gross receipts."
The extension of the FAI's sponsorship contract with the car maker Opel, and the renegotiation of the television contract with RTE, were developments with long term financial implications, the association said.
During the year, the organisation also established FAI Productions Ltd, a company that will produce film and television programmes and will maximise the association's commercial rights.
