The IRFU and the FAI met yesterday with the Minister for Arts, Sport and Tourism Mr John O'Donoghue, to discuss the issue of a new stadium development at Lansdowne Road.
A joint delegation from both sporting bodies, including Chief Executive Philip Browne and Noel Murphy of the IRFU, and FAI CEO Fran Rooney and Treasurer John Delaney, discussed the 50,000 all-seater proposal.
The proposal put forward indicated that the cost of the proposed development at Lansdowne Road at present day prices was €250 million.
The proposal also indicated that the joint contribution from the IRFU and the FAI would be approximately one third.
Over €85 million of the total cost of the project will also return to the exchequer in VAT, PAYE and PRSI returns arising from the initial construction phase. The timetable for completion of the project, if approved, would be 2008.
