First, I want to assure the Deputy that there is no foundation in any press report which suggests that the national stadium is not proceeding. Today I will be issuing the second stage brief to the four selected consortia and this will mark the most exciting step forward in Irish sport. Through a joint venture between the State and the private sector we will have one of the finest indoor stadia in Europe. It is interesting to note that the four consortia are made up of the top four companies in the world involved in facility provision including the top German, British, French and American companies in a joint venture with Irish companies. It is also significant that in addition to the £35 million which the Government have approved we anticipate that as much as £25 million and perhaps even more will be provided by the private sector as a contribution towards the development of the stadium.
The stadium will be managed by one of the top facility management companies in the world. It is interesting to note that the four recognised top facility management companies in the world are bidding to manage the Irish indoor national stadium. When one considers the experience in other countries in regard to the provision of stadia, we are very lucky that the Irish taxpayer is getting most unbelievable value for money in getting a facility valued probably at £60 million or more for a mere £3 million per year index linked up to a total value of £35 million. I want to quash completely the suggestions that are being made. Because there are continuing suggestions, it is only right, that I should point to the determination of the Minister for Education and the Taoiseach, both sporting people, to ensure adherence to the need for cost effectiveness in public expenditure in regard to this project, while being so supportive of such a significant development.
In regard to the land acquisition, approaches were made to the landowners in question and every effort is being made to acquire the necessary land by agreement. Even though we had a compulsory purchase order approved, I am still anxious to reach agreement in this respect. If we do not, a judicial review by the High Court of the compulsory purchase order is expected to be held in early 1991 and a judgment given. Assuming there is no appeal to the Supreme Court, the Custom House Docks Authority can take possession of the site at that stage. If it is appealed to the Supreme Court a judgment would be expected by about June 1991 in which case we would then take possession of the site.