The FA of Ireland made a profit of about €4.5M from its participation at Euro 2016, it was revealed, with the rest of the €11M it earned in prize money "going on travel costs, general expenses and bonuses to players and members of the management team," according to Emmet Malone of the IRISH TIMES. The money helped to take the association's turnover to €50.4M during the calendar year -- a "modest increase" of about €3.4M on '15. FAI Dir of Finance Eamon Breen explained, however, that the prize money "had been split evenly between the two accounting periods due to the costs -- mainly bonus payments -- incurred immediately after qualification for the tournament was achieved." Breen said that the profit had been mainly used to "strengthen the balance sheet" of the association which, he said, is "entering a stronger period financially," despite still carrying some €39M ($44.6M) in "stadium-related debt" (IRISH TIMES, 6/29). In Dublin, John Fallon reported the "unprecedented outlay" of €6.5M "shrunk" the Euro 2016 net prize money. While the FAI "may insist otherwise," the inflow accrued from reaching the last two Euro finals was "central to chipping away" at its "debt mountain," highlighting the "importance of reaching" the 2018 World Cup. UEFA awarded all 24 participants at last year's tournament in France an initial €8M, which in Ireland's case was enhanced by another €3M "thanks to reaching the last-16 stage." FAI CEO John Delaney was "eager not to provide any clues as to the actual figure negotiated for the players." Delaney said, "It wouldn't be right to get into a breakdown of costs because there's the bonuses for players in there" (IRISH INDEPENDENT, 6/29).
