The Mayo county board has confirmed that an agreement has been reached with Mayo Supporters Foundation financier Tim O'Leary.

The board had been locked in a dispute with O'Leary over the latter's concerns regarding governance issues.

The Foundation had also been withholding €250,000 of money it had fundraised for Mayo GAA.

But in a joint statement issued on Friday night, Mayo GAA, Mayo GAA International Supporters Foundation and O'Leary announced that the dispute has been resolved.

O'Leary, who has apologised for "some of his own behaviours" added that his legal case against Mayo GAA has been "terminated" and that "the Foundation money can now be released to Mayo GAA".

"I'm most grateful to the many donors who have supported the Foundation and delighted to see that their donations are going to be used to help fund the development of the Academy which is so important to the future development of Mayo teams," he said.

Mayo GAA chairman Liam Moffatt also apologised to O'Leary and his family.

"We are delighted to have reached an agreement and I would like to thank Mr O’Leary and Mr Terry Gallagher, Foundation Trustee, in bringing this dispute to an end," he said. 

"I fully accept that Mr O’Leary’s motivation, as indeed all parties' motivation, from the outset was to assist Mayo GAA and it is regrettable that relationships between Mayo GAA and The Foundation deteriorated over governance concerns.

"We have outlined the financial reforms that are taking place within Mayo GAA and I have offered Mr O’Leary and his family an apology for any inappropriate and personal remarks towards him, an apology which Mr O’Leary has accepted."

The full statement reads: "Mayo GAA, Mayo GAA International Supporters Foundation and Mr Tim O'Leary can confirm that they have reached an agreement in respect of the dispute between the parties.

"In reaching this agreement, all have accepted that the best interests of Mayo GAA had to come first so that a resolution could be found in the shortest time possible.

"Mr Liam Moffatt, Chairman of Mayo GAA said, 'We are delighted to have reached an agreement and I would like to thank Mr. O'Leary and Mr. Terry Gallagher, Foundation Trustee, in bringing this dispute to an end.

"'I fully accept that Mr O’Leary’s motivation, as indeed all parties' motivation, from the outset was to assist Mayo GAA and it is regrettable that relationships between Mayo GAA and The Foundation deteriorated over governance concerns.

"'We have outlined the financial reforms that are taking place within Mayo GAA and I have offered Mr O’Leary and his family an apology for any inappropriate and personal remarks towards him, an apology which Mr O’Leary has accepted'.

"Mr O’Leary confirmed that he has now terminated the legal case against Mayo GAA and the named Officers.

"Mr O’ Leary said, 'I’m very happy that a resolution has been reached and that the Foundation money can now be released to Mayo GAA in accordance with the 9 April, 2019 email'.

"Mr O’Leary also apologised for some of his own behaviours during the dispute.

"Mr O’Leary concluded, 'I’m most grateful to the many donors who have supported the Foundation and delighted to see that their donations are going to be used to help fund the development of the Academy which is so important to the future development of Mayo teams.'"