Fianna Fáil must to choose another candidate for the forthcoming Meath by-election after Cllr Tommy Reilly today withdrew from the race.
Mr Reilly had been selected to contest the seat vacated by former Fine Gael leader Mr John Bruton following Mr Bruton's appointment as EU ambassador to Washington in December.
However, he announced that he was withdrawing his candidacy after revelations that he had purchased land at Eddoxtown in Co Meath along with former government press secretary Mr Frank Dunlop in 1997.
Cllr Tommy Reilly
The duo purchased the land using a firm owned by an offshore company based in the island of Niue in the South Pacific. Mr Dunlop has admitted before the Mahon tribunal in recent years that he bribed politicians in relation to land deals, but there is no suggestion of wrongdoing in relation to the Eddoxtown transaction.
Mr Reilly informed friends this morning that he was withdrawing from the Meath by-election for family reasons in light of the media coverage of the revelations. He told RTE News today that despite media delving into his affairs, there was no evidence against him of impropriety.
"All I can say about the people involved in this media witchhunt on me and my daughter is that I'll get a Mass said for them and maybe God will pray for them," he said.
Fianna Fáil officials had spoken to Mr Reilly and asked to see relevant documents on the land deal. Mr Reilly was chosen at a selection convention before Christmas to run in the by-election.
The Taoiseach, Mr Ahern today said he wished Mr Reilly well and said the party would appoint another candidate as soon as possible.
"It's very regrettable for him," Mr Ahern said. "There was a lot of speculation on him and his family.
"Thankfully in Meath we have a very strong organisation with good candidates so we will be engaging with them and appointing a new candidate immediately."