RTÉ Soccer analyst Liam Brady said the FAI needs to bring in new faces in order to move on from the latest controversies around the association.

The governing body for football in Ireland confirmed on Tuesday that it won't be attending an emergency Oireachtas meeting on Wednesday, saying in a statement that its focus was on attempting to negotiate a refinancing package.

The meeting had been called to discuss the financial situation at the FAI, which last Friday confirmed that it has debts of over €55 million.

Speaking on RTÉ's Soccer Social, the former Republic of Ireland international said that a clean-out is needed.

"It's a disgrace, we've got to wipe the slate clean, and get rid of the people that were part and parcel of these decisions," Brady said. 

"(We need to) give the football community belief in that people that are coming in that they have the business acumen, that they love the sport.

"Take it from there, and I think everyone will buy into it.

"The sport is not going to go away. What we need to make go away is the people running the FAI."

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Ireland face a crucial week in March, with Euro 2020 qualification up for grabs.

First up is a trip to Slovakia, and, if Mick McCarthy's charges can pass the test, then it's another away day against either Bosnia-Herzegovina or neighbours Northern Ireland.

Reaching the finals, as Ireland have done at the last two championships, would be lucrative, particularly with games to come in Dublin next summer.

"It's the international teams that can generate the revenue to fund things going forward," continued Brady.

"We need to qualify for the Euros, that's really important.

"The community needs to come together. If we haven't reached rock bottom with the FAI, we're very nearly there.

"Other people have to come together to solve this problem, and I think the government has a big role to play in it."