Deutsche Bank, one of the world's largest financial institutions, is the FAI's financial partner in the scheme, and will be arranging the, as yet, unspecified debt element of it.
The Frankfurt-based Deutsche Bank group has a balance sheet of DM986 billion (#397 billion), and with a presence in more than 50 countries, has experience of similar-type schemes.
The expectation is that any additional financing above that raised through sales and sponsorship and the FAI's own assets will be in the form of conventional debt packaging. Within Ireland, an arrangement will be put in place through the domestic banks to enable people to purchase seats.
The FAI's financial arrangement with the Deutsche has been put together through the bank's London branch, although the institution established a presence in the International Financial Services Centre in Dublin in 1991, and is one of the largest custodial banks there. It has a staff of 160 and has $20 billion (#17 billion) in assets under administration and custody.
Deloitte & Touche is one of the largest accounting, taxation and management consulting companies in Ireland, employing more than 500 people in its offices in Dublin, Cork and Limerick. It is part of the US-based group, Deloitte Touche Tohmatsu International which has offices in excess of 130 countries.
David O'Flanagan, a corporate finance partner, says a core team of three people were engaged on the project over the past 18 months, drawing on experience the company has had working on stadiums in the US and Britain. As part of the financial feasibility study, it was suggested that up to 8,000 seats be offered for sale along with 70 boxes.
O'Flanagan says the 45,000 seat capacity is "quite an economic level at which to set the size of the stadium", and that it is possible the £65 million (#83 million) bill will be met through seat sales, sponsorship deals and advertising.
Ascon LTD, the largest Irish civil engineering contractor, is based in Kill, Co Kildare. Employing 650 people, the company is a subsidiary of the Dutch company, HBG Group, and has been associated with major public civil engineering projects in the industrial, marine and infrastructural areas. The HBG group, one of the top ten European construction groups, employs 26,000 people and had a turnover of almost £4 billion (#5.1 billion) in 1998.
The group worked on the Gelredome Statium in Arnhem and has the contract for the Arena 2000 in Coventry. It has renovated stadiums in Rotterdam and Eindhoven. Recent contracts, which Ascon won, include the £30 million Arklow by-pass, the £1.7 million Bray coastal protection plan, construction of a £37.4 million section of Dublin's C-ring motorway (the Southern Cross), and the building of the £5 million Wexford Bridge.
(# - Euro)
