The newly formed Board of Directors of Páirc Uí Chaoimh has held its first meeting and has tasked board directors with examining figures to clarify the costs relating to the stadium redevelopment.

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

Croke Park stadium director Peter McKenna estimated that the final cost of the redevelopment would be in the region of €110m and while Cork GAA Chairperson Tracey Kennedy insisted that Páirc Uí Chaoimh will stay in Cork hands, they have entered into a three-year commercial arrangement with Croke Park.

The new board - Stáid Cois Laoi - has been formed out of that arrangement based on the business model of Pairc an Chrocaigh Teoranta, run by McKenna. 

A statement from the new board confirmed their meeting and set out their priorities, which include scrutinising the costs of the redevelopment and improving the playing surface at the Páirc.

The statement read: "A scheduled meeting of the Board of Directors of Páirc Uí Chaoimh took place on Monday evening chaired by GAA President John Horan, who was nominated to chair the board at its first meeting in November.

"Michael O’Flynn and Tom Gray, both board directors, have been asked by the board to examine figures and clarify the costs relating to the stadium redevelopment. The meeting also confirmed that remedial work will take place on the playing surface to ensure that it will be capable of hosting games fixed for Páirc Uí Chaoimh in 2019.

"This work will be completed ahead of the commencement of the Allianz Leagues and it is not expected that a replacement of the pitch will be needed in the short term."

GAA President John Horan said: "I am delighted that the GAA has such a positive asset in Cork and I am optimistic about the future of what is a state of the art facility." 

Cork GAA Chairperson Tracey Kennedy added: "It is fantastic for us to be able to call on the experience and expertise of Croke Park to work with us in the operation of our stadium, and I know this will be a huge positive for Páirc Uí Chaoimh."