A deal to secure to FAI’s future is imminent, with an announcement confirming the exact details due from government buildings as early as today.

Mounting debts and cashflow problems arising from an unprecedented year of corporate governance turmoil forced the new board of the association to seek financial assistance from the state in December.

UEFA, whose advance payments on television and grants kept the FAI afloat once the crisis began in March, are also providing support, with lending partners Bank of Ireland the final element of the three-way burden-sharing pact.

Although state aid has been suspended since April, Sports Minister Shane Ross has vowed to almost double the annual grant payout to €5m.

He has welcomed the complete clearout of the entire old board and last week endorsed the appointment of Niall Quinn as deputy chief executive.

The bailout will provide the association with the €18m it insists is imperative to avoid insolvency.

The wave of redundancies floated last month when the delayed accounts showed a €9m loss for 2018 are now expected to be minimal.

Debts currently stand at €70m and cash-flow, according to vice-president Paul Cooke, will remain negative until 2023, even if Mick McCarthy delivers Euro qualification through the play-offs in March.

It is understood that an incorporeal Cabinet meeting is being held at 11am where Taoiseach Leo Varadkar and his ministers are set to discuss a package which will address the funding issues faced by the FAI following the departure of chief executive John Delaney.

Online Editors