The new board of directors charged with running Páirc Uí Chaoimh meets today.

The establishment of a new Páirc Uí Chaoimh board of directors is a move designed to separate the finances of the stadium from the finances of the Cork County Board.

After a weekend where Cork chairperson Tracy Kennedy came out at the annual convention to state the redevelopment cost of Páirc Uí Chaoimh still stood at £86million, she also added that the venue has entered into a commercial arrangement with Croke Park for the period of three years.

Out of this comes the formation of the new board - Stáid Cois Laoi - based on the business model of Pairc an Chrocaigh Teoranta (PCT), run by Croke Park stadium director Peter McKenna. 

Last week McKenna revealed that Páirc Uí Chaoimh's redevelopment had overrun by €25m, costing "close to €110m as a final cost".

McKenna will also be part of the 11-person Páirc Uí Chaoimh board, along with Croke Park stadium financial controller, Ger Mulryan.

Also on the board, which will be chaired by Tracy Kennedy, is Ger Lane, outgoing Cork secretary Frank Murphy, former GAA President Christy Cooney, retiring board treasurer Bob Ryan, Pearse Murphy and businessmen Michael O’Flynn and John Mullins. 

According to McKenna, the board of directors was unable to meet until now as it would have been illegal to  ask people to serve on a board if the company was going to be insolvent.