Dublin City Council has completed the purchase of Dalymount Park from Bohemians in a deal worth €3.8 million.

The deal brings the Phibsborough venue into public ownership, with plans to redevelop the facility as part of DCC’s overall development plan for the area.

A deal for €3.45 million had been agreed between the two sides, with that money going to Bohemians’ main creditor Zurich, to which the club owes a significantly larger sum.

The extra €350,000 in the announced deal is understood to be part payment to Bohemians members, who are owed a total of €700,000.

DCC had hoped to acquire Tolka Park in nearby Drumcondra as part of the deal, with Shelbourne and Bohemians ground sharing at Dalymount, but there have been ongoing issues in securing control of Tolka Park.

The council, which ultimately owns the site but not the lease, which has nearly 50 years to run, apparently remains open to Shelbourne being reintegrated into the Dalymount plan at a future date.

Welcoming the purchase of Dalymount Park, Minister for Sport Paschal Donohoe said: "I am delighted that Dublin City Council has been able to agree a deal for the purchase of Dalymount Park. Dalymount Park has a special place in the affections of Irish football fans and the stadium has witnessed many wonderful footballing occasions over the years.

“Obviously a redeveloped stadium will be a boost for Bohemians in particular, and the League of Ireland in general, but it can be expected that such a redevelopment will bring about wider economic benefits for the local area.”