The Minister for Tourism, Sport and Recreation, Dr McDaid, formally announced yesterday that the Government would commission independent consultants to review all aspects of the development of Stadium and Sports Campus Ireland.
Dr McDaid told the Dail the cost of the project was now estimated at £550 million, including £320 million for the campus and £230 million for the stadium. The private sector was prepared to invest an estimated £150 million, mostly for commercial facilities, and including the £50 million private donation from J.P. McManus the cost to the Exchequer is estimated at £350 million.
However, he told Labour's Sports spokesman, Mr Brian O'Shea that final estimated costs of the project would not be known until June 21st when the tenders were in. The Minister said the independent consultants would overview all aspects of the project including the contracting strategy adopted in securing the development and the risk levels, the management processes and structures, timing and cost effectiveness.
They would advise on the assessment by Campus and Stadium Ireland Development (CSID) of the gross cost range and Exchequer requirements for each facility proposed for the campus.
They are expected to assess the estimate by CSID of the operating costs and revenues likely to be associated with the stadium and campus and the impact on the Exchequer. They will assess the estimated costs of relocating existing facilities from the Abbotstown site and the access infrastructure for the development of the sports stadium and other facilities. The review would also include establishing the extent and timing of the Exchequer's liability and the impact of the development and access to it on the hinterland of Abbotstown and on the Dublin region.
The Minister said consultants would "liaise with and be guided by a steering group to be established" and they would have to produce their report within three months.
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