So what can be done to stabilise a beleaguered FAI and put it on the right track? That is the question. Will the taxpayer foot the bill or will government or FIFA or UEFA ultimately opt not to get too involved?
It's a topic that will dominate the early months of the new decade - a period where thoughts should be on on-the-field matters, both domestically and internationally, with Dublin set to host Euro 2020 matches.
Organisational reform has taken place within the Olympic movement in Ireland following on from the Rio 'ticket scandal'. What was the Olympic Council of Ireland is now the Olympic Federation of Ireland and its president Sarah Keane described the current situation at the FAI as "very grim" when speaking on RTÉ Radio's Today with Seán O'Rourke.
"The FAI is a member Federation of the Olympic Federation of Ireland (OFI), so I don't think it’s good for Irish sport at all," she added.
"We are all part of the same sporting family and it’s terrible to see an organisation facing such challenges."
Keane, who is also CEO of Swim Ireland, went on to state that there appears to be a standoff in relation to the appointment of independent directors, who she said may be slow to join a brand seen as "toxic"
As to a possible solution to help the FAI, she drew on her own experience in the establishment of the OFI.
"One of things that helped us a lot in the Olympic Federation to move forward in the time we were the Olympic Council was the establishment of a crisis management committee. I was one of three people on that committee.
"We had relevant advisors around us but we were in a position to make decisions. The Olympic board delegated powers to the crisis management committee who then got on with the business in dealing with the various stakeholders. It was done a bit off the radar with the view to manage and resolve.
"We have to remember that boards are strategic entities, it is very challenging.
"One of the problems now for the FAI is that everybody is coming out with a view as to what to do. And then you have the government who is reluctant to overly interfere. I believe the FAI should be on the plane to meet UEFA, not waiting for them to come here.
Sarah Keane, President of the Olympic Federation of Ireland, tells #TodaySOR the @FAIreland should look into setting up a 'crisis management committee', to deal with the current crisis, and she would consider taking a role on such a committee. @RTERadio1
— Today Sean O'Rourke (@TodaySOR) December 20, 2019
"An ideal scenario would be that that any interim committee could have one or two members on the FAI board - but are not directors. This might create a better trust for people."
When asked whether she would be interested in going on such a committee, Keane did reference her own busy schedule, but felt she could be of some assistance when saying: "From my perspective I’m already involved in two organisations. In saying that, I have some skills to offer that could potentially be of value.
"I think the whole matter is very serious. The FAI is possibly facing examinership or liquidation. Is it feasible then for independent directors to come on board when they are not even sure the organisation will continue?"
