The FAI AGM has been told that, despite difficult economic conditions, the association recorded a record operating surplus of €6.2 million euro last year

Chief Executive John Delaney insisted that the association is on course to be debt free by 2020 and also revealed that Ireland would bid to become a host venue for the European Championship finals in 2020.

The financial position of the FAI was the main focus of the AGM and it emerged that despite a difficult economic climate and with only one home competitive international in 2012 the association recorded an operating surplus of €6.2 million and a modest net profit of €25,000.

The Football Association of Ireland has a €63m debt.

The debt is mainly due to its share of the cost of the Aviva Stadium at Lansdowne Road in Dublin.

The business plans for the FAI do not include qualification for tournaments but CEO John Delaney stressed that any proposed ban on alcohol sponsorship would jeopardise future earnings.

With regard to the Aviva Stadium debt the FAI insist they are up to date with all repayment obligations.

The FAI claims that Football remains the biggest and most popular sport in the country, indeed there were 114 internationals played at all age levels last year.

While the finances of the association remain a concern the hope is that new long term television deals and other revenue streams should see inroads into servicing the Aviva Stadium debt by 2015.

Delegates from Waterford United were denied access to the meeting because of non payment of affiliation fees to the League of Ireland.