Lansdowne re-development to cost €250 million

The proposal put forward indicated that the cost of the proposed development at Lansdowne Road at today’s prices was €250 million and that the joint contribution from the IRFU and the FAI would be €83 million.

Over €84 million of the total cost of the project will return to the exchequer in VAT, PAYE and PRSI returns arising from the initial construction phase. The financial breakdown of the Stadium is as follows:

IRFU/FAI contribution: €83 million
Government contribution: €167 million
Total cost: €250 million

VAT/PAYE returns: €84 million
Net cost to exchequer: €83 million

The timetable for completion of the project, if approved, would be 2008.