Concerns were raised about OCI finances during the Extraordinary General Assembly ©ITG

Fallout from the Olympic Council of Ireland (OCI) ticketing scandal has so far cost the organisation €900,688 (£788,000/$958,000) in "emergency expenditure", it was revealed here during an Extraordinary General Assembly.

According to a report delivered by honorary treasurer William Kennedy, only €90,498 (£77,200/$96,200) of this has so far been reimbursed via insurance payouts.

This represents less than 10 per cent of the total costs.

Patrick Hickey - who was replaced as OCI President by Sarah Keane during the meeting - was arrested in Brazil for alleged involvement in a ticketing scandal at the Rio 2016 Olympic Games.

Hickey denies all wrongdoing, but the incident has led to a succession of internal and external investigations as well as legal and consultancy costs in an attempt to restore the reputation of the national governing body.

Law firm Arthur Cox were paid €394,000 (£336,000/$419,000) to provide "direction and advice to our Executive Board on an impartial basis".

Consultants Grant Thornton received €214,900 (£183,200/$228,600) to provide an "impartial investigation" into the ticketing controversy while a corporate governance report by Deloitte cost a further €18,500 (£15,800/$19,700).

This "non-redeemable expense" totalled €628,000 (£535,000/$668,000).

Patrick Hickey was repeatedly praised by his former colleagues in his absence for the way he has generated revenue over the last 28 years ©ITG
Patrick Hickey was repeatedly praised by his former colleagues in his absence for the way he has generated revenue over the last 28 years ©ITG

Public relations consultants The Communications Clinic also received €69,500 (£59,200/$74,000), while a further €180,000 (£153,400/$191,500) was shelled out in legal fees for OCI staff and Executive Committee members.

It is hoped that all of these latter two sums will ultimately be successfully claimed via insurance.

But, even when these payments are taken into consideration, the OCI still finished the 2012-2016 quadrennial with a final fund of €1.54 million (£1.31 million/$1.64 million) carried forwards in reserve funds.

The relative stability is due principally to the "diligent and untiring efforts of one man, Patrick Hickey", Kennedy claimed, adding: "Irish Olympic sports, Irish athletes and Irish sport owe a great debt to him." 

OCI honorary general secretary Dermot Henihan implicitly criticised much of the post-ticketing scandal spending during his speech.

He lambasted "inaccurate speculation" which had led to "needless expenditure" before stoutly defending the 28 year tenure of Hickey.

Concerns were raised by other delegates about the quality of the financial report, however, with it promised that full audited accounts would be provided at the body's next Annual General Assembly meeting.

Henihan was subsequently voted out of his position in favour of former Football Association of Ireland deputy chief executive Sarah O'Shea.