The controversial fee paid to Magahy & Co, the company headed by Ms Laura Magahy which provides executive services to the Campus Stadium Ireland project, has been more than halved.
Campus and Stadium Ireland Ltd has agreed a new contract with the executive services team which reduces the monthly fee from €127,000 to €57,000.
The contract came under scrutiny earlier this month when it was examined by the Dáil Public Accounts Committee.
In a statement yesterday, the board of CSID said that it had reached agreement on the "principles of a revised contract" with the executive services team. The revised contract, it pointed out, was in respect of work for the Aquatic and Leisure Centre only and was for a period of 13 months.
CSID stated that progress and work on the stadium and other sporting facilities was currently on hold pending the completion of a review by the Minister for Tourism, Sport and Recreation, Dr McDaid. It added: "CSID is pleased that the executive services team continues to be involved in the delivery of a fully-commissioned, world-class Aquatic and Leisure Centre."
The statement said that CSID also acknowledged the "highly-professional contribution" made by the executive services team in bringing the development of the overall campus and stadium project to an advanced stage in a relatively short time.
Ms Magahy defended her record before the Public Accounts Committee, saying that she did not "do public projects for the money" and insisting that she had won the contracts on merit.
She was responding to a suggestion from Mr John Purcell, the Comptroller and Auditor General, suggesting that her company's contract with CSID could be worth up to €12 million. This figure was based on estimates of what the Abbotstown project might cost.
Ms Magahy, whose company provides similar executive services for the Digital Hub project in the Coombe area of Dublin, also said that she strongly resented implications that she had been awarded contracts because she knew Mr Paddy Teahon, the former chairman of CSID.
The monthly fee for the Digital Hub project is €140,000 and remains unchanged. A spokesman for the Department of Public Enterprise said last night that it was important to bear in mind that the Digital Hub project was "full-steam ahead", unlike the Abbotstown project.