Ms Mary Moylan:

This paragraph has to be understood in the context that the authority had agreed that a bid price of €375 million was a reasonable one having regard to the development potential of the site and other comparable land prices. The authority's investment was linked to that amount of €375 million about which the authority was satisfied. In this paragraph it was noted earlier that Mr. McNamara believed that a higher bid should be made and he offered to fund a higher bid. The higher bid above €375 million was being funded by Mr. McNamara and the authority was not being exposed to that. That was the context of it.