A formal legal agreement has been signed between the Government, the IRFU and FAI on the redevelopment of Lansdowne Road.
The agreement has led to the creation of a new company, Lansdowne Road Stadium Development Company Limited, to be responsible for the construction and management of the new venue.
Willie Ryan has been named Project Director.
The estimated cost of the stadium is €250m in today's terms, which it is believed will rise to €300m through inflation by its delivery deadline of late 2008.
Of this the Department of Arts, Sport and Tourism will contribute €191m, the IRFU €68m and the FAI €33m.
The current timescale would see a planning application lodged late in 2005 and a 29 month construction period beginning in the second half of 2006 for completion by the end of 2008.
No venue for football or rugby has been found for during the construction period, although the Minister said he hoped international matches would not have to be played outside the jurisdiction.
He added the dimensions of the new stadium would be large enough for Gaelic Games, to which the GAA had responded positively, but that the issue of Croke Park remains an internal one for the GAA.
