Difficulties in completing the Government's planned road, rail and infrastructural developments led to the decision not to seek State funding for the National Stadium, the Taoiseach has said.
Mr Ahern told reporters last night that officials had completed a report for the Cabinet Committee on Infrastructure in the past few weeks looking at the Government's ability to implement the National Development Plan between now and 2006.
"Those figures show that we would be stretched to the very limit to be able to implement most of the National Development Plan," he said. "The figures show that in a number of areas - without a significant slip in the economy - that we would have difficulties completing that work.
"That signals that it is not possible to use Exchequer money in the medium term on the stadium."
He suggested it would be politically impossible to say that the resources were not there to complete the National Development Plan, and nevertheless commit funds to a stadium.
He said the options were therefore to wait several years before being able to commit even a small amount of Exchequer money to it, or to go another route. "What we have agreed to do, and it is a sensible compromise, is to look for expressions of interest from the private sector.
"Whether there will be expressions of interest or not we will just have to wait and see. I hope there will."
Mr Ahern signalled that any private-sector developer who came forward to take over the project would be allowed develop other money-making ventures at Abbotstown - such as hotels and retail outlets - to make the project more attractive. Private-sector interests would be offered the opportunity to develop "not just the stadium but the complex as a whole".
It was not clear last night whether some of the site, originally earmarked for a major sports campus, could be used for housing.
Asked about last night's negative GAA statement about the prospect of Croke Park being used for the 2008 European soccer championships, he said the GAA President had said this a number of times.
"His position is that he cannot pledge a decision about 2008 until a congress of the GAA alters the present position [banning foreign games]."
However, he said he hoped the UEFA inspectors coming to Ireland next week would look at Croke Park and the Abbotstown site.
He acknowledged that at this stage the Football Association of Ireland could not tell UEFA what two stadiums would be available for the 2008 championships, as required by the European footballing ruling body. Both possible stadiums were based on provisos.
"One is that the GAA would respond in due course democratically, and we have got to get private-sector interest in Abbotstown. I am hopeful that in 2008 we will have a finished Croke Park and Abbotstown."
He said he could not be certain but was confident of private-sector interest in Abbotstown. "We are not just looking at the stadium but the complex as a whole," he said.
He said Abbotstown was a very good site and that a lot had been done on the planning and technicalities of it.