John Delaney has offered to step down from his role as executive vice-president of the Football Association of Ireland.
Last month, Delaney had stepped aside as chief executive of the FAI to take the newly-created post.
This came in the aftermath of a newspaper report that suggested he loaned the association €100,000 in 2017 to cover a cash-flow problem.
Last week, he told an Irish parliamentary committee, who are examining the FAI’s finances and governance arrangements, that he loaned the organisation the money so it would avoid exceeding its overdraft.
The loan was not flagged to Sport Ireland and funding to the association has been suspended as a result.
Delaney had offered “voluntarily to step aside pending the completion of an independent investigation into issues of concern to the board”, according to an FAI statement.
Honorary secretary Michael Cody and treasurer Eddie Murray have resigned.
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The statement from the FAI read: “The Board of the Football Association of Ireland met in Dublin today. Following that meeting, the sub-committee of the Board met with Executive Vice-President John Delaney.
“John Delaney has offered to voluntarily step aside from carrying out his role as Executive Vice-President with immediate effect pending the completion of an independent investigation by the Association into issues of concern to the Board.
“Honorary Secretary Michael Cody and Honorary Treasurer Eddie Murray have both voluntarily resigned from the Board.
“The Board would like to thank Michael Cody and Eddie Murray for their long service to Irish football and wish them well after their voluntary resignations.
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“The meeting of the Board also mandated the sub-committee, set up to review Governance and recently publicised financial transactions, to press ahead with their work as a matter of urgency. The FAI will update Sport Ireland on all developments ahead of the meeting of the Oireachtas Committee on Sport tomorrow.
“The Board of the Association wishes to assure members, football supporters and all stakeholders and sponsors that it is expediting all processes designed to restore faith in the Football Association of Ireland.
“The Board acknowledges all concerns raised by stakeholders and supporters and is working to ensure that all Government funding is restored to Irish football at the earliest opportunity.”