Dublin city councillors have agreed borrowing of €34 million to fund the escalating costs of redeveloping Dalymount Park football stadium in Phibsborough, which have spiralled to more than €63 million.
The council plans to submit an amended planning application for the project next year, altering the design in an attempt to stop costs breaching €63.75 million.
A report presented to councillors on Monday night indicated the return to the planning process would delay the construction of the stadium, home to Bohemian Football Club, by as much as two years.
The council bought the sports ground from Bohemians for €3.8 million in 2015. The following year it announced plans for a new stadium at an estimated cost of €20 million.
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It acquired Tolka Park in Drumcondra, home to Shelbourne Football Club, in the same year with the intention of selling the land to fund the redevelopment of Dalymount as a facility for both clubs.
However, following a campaign to retain the Drumcondra ground, the council agreed in 2022 to abandon plans to rezone Tolka Park for housing and to redevelop Dalymount Park as a standalone project.
Planning permission was approved in February 2024 for the demolition and reconstruction of Dalymount, with a capacity of 8,034.
The cost of the project, which included community facilities, bar/function room, club offices and team facilities, had then risen to more than €40 million.
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By the end of last year, when the council published its 2025-2027 capital programme, the cost had increased to €56.6 million.
New estimates, presented to city councillors on Monday night, show the cost has hit €63.75 million. The council has secured Government funding of €25.6 million, another €2.6 million has been gathered from levies paid to the council, €1 million will be used from the long-term lease of Tolka Park back to Shelbourne FC, and €500,000 has been secured from Uefa. This leaves a shortfall of more than €34 million.
Councillors have approved borrowing of €34.03 million over a 30-year term. Repayments will be “partly funded from the annual rental income, match day revenue and non-match day revenue,” the council said.
Due to the “significant funding shortfall”, design changes have been identified to save €3.5 million, the council said, keeping the capital costs within €63.7 million.
This requires the submission of an amended planning application next year, which if approved would allow for “practical completion” in the latter half of 2028 followed by “installation and growth of the pitch”.
When permission was granted last year, completion was expected ahead of the 2027 League of Ireland season. While an opening date has yet to be set, council chief executive Richard Shakespeare told councillors he hoped construction could start by this time next year.
Mr Shakespeare said the €63.7 million cost was the “worst case scenario” for the project. “I have full confidence in the team that it will be delivered within the budget as outlined.”
In a statement, Bohemian FC welcomed the council’s decision which was “the final step in a process that began with DCC acquiring Dalymount exactly 10 years ago”.
The borrowing combined with the Government funding, “will allow for the historic stadium to be fully redeveloped and serve the people of Dublin and beyond long into the future,” it said.
