Mary Harney has said that she would be very concerned if there was any truth in a newspaper report on the contract to run an aquatic centre at the site of the proposed Stadium Ireland.

Today's Irish Times reports that London-registered Waterworld UK, a so-called shelf company with assets of only a few euro, was given the contract to operate the centre at Abbotstown.

Campus Stadium Ireland spokesman have presented a full report on the matter to Dr Jim McDaid, the Minister for Sport and Tourism.

A spokesman for the agency appointed to develop the stadium said earlier that the contract to operate the National Aquatic Centre at Abbotstown is not with a so-called shelf company, but with Dublin Waterworld and Rohcon.

A shelf company is a company which has been formed but does not actually engage in any business trading. They are often bought in order to establish a history for a company. This can be useful for bidding on contracts and obtaining leases and loans.