FAI Interim Deputy CEO Niall Quinn says the Government's rescue package to save the FAI will herald a new dawn for Irish football.
Quinn was speaking after Sports Minster Shane Ross outlined the funding measures that will keep the embattled association afloat.
These include a restoration of the annual grant of €2.9 million per annum, augmented to €5.8 million over the next four years.
€2.5 million will also be set aside to cover existing demands around the Aviva Stadium debt, to protect the hosting of Euro 2020 in Dublin and to meet these liabilities for the next three years.
The contribution of UEFA and Bank of Ireland towards resolving the FAI's predicament was not disclosed today.
The funding is dependent on the protection of jobs at the FAI and a reform of the Association's council.
Former Sunderland Chairman Quinn, who was capped 92 times for the Republic of Ireland and played at two World Cups, says this is a landmark moment for the Association:
"Football will change in this country to a level that you can be proud of and that you feel safe putting taxpayers money at risk in that bet. We're going to now jump on that opportunity. We're going to thrive on the ability that you've given us and I believe the power of football will come home and resonate far louder, far more dearly than the shadow that has cast itself over it in the last year."
"You will see a new Association, with new empowerment, with a new structure, with a new culture and I suppose with a love that's been questionable. People who truly do love the game have had to put up with so much over the last year."
Quinn outlined that investment in the domestic game was a key objective going forward:
"Right from the League of Ireland becoming more prominent, and getting treated much better than ever in the past. Everything below that will come with it. We'll have grassroots, great stories to tell you about that - that got lost in the narrative in the last twelve months. The work of the football 'team' in this country - this 'Team Ireland' - we're 'Team Ireland' in every aspect. With Mick McCarthy's team going to Slovakia, with our Under 15's who are gone to camp to take part in a very important tournament, to our Under 21's, who are flying the flag so brilliantly. To our Ladies, who are really making us proud and who I am delighted that are ring fenced in some real proper new funding to make that game thrive.
"Gary Owens, myself and the rest of the board are here as well today just to give the message to the people out there - now we have the tools to go about changing football in this country - we can't wait to do it, and we hope to make you all proud."
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