The Minister for Sport has appointed London consultants to carry out an overview of the cost of developing the proposed Stadium and Sports Campus Ireland at Abbotstown in Co Dublin.
High-Point Rendel is a London-based international consultancy. It will work on the overview with its subsidiary Vantagepoint Management Consultants Ltd and Dublin-based associate Murray O'Brien Ltd.
Dr McDaid said: "High-Point Rendel Group have a track record in practical consultancy, project management, contractual advice and risk management and have been involved in projects in the past such as the Commonwealth Games Stadium in Malaysia and developments relating to international airports in Malaysia and Hong Kong."
A steering group made up of senior civil servants from the Departments of the Taoiseach, Enterprise, Trade and Employment, Tourism, Sport and Recreation and Finance will oversee the work done by the consultants.
The terms of reference require the overview will be ready for submission to the Government before the end of September this year.
The proposed Stadium and Sports Campus Ireland will include an 80,000-seat stadium, a 50-metre pool and a velodrome.
The Government has estimated the project will cost £550 million, £350 million of which will be borne by the Exchequer, the rest by private backers.
These figures have been disputed by Opposition parties who have said they believe the amount involved to be closer to £1 billion.