The Government will receive a rent of €100,000 per annum for five years, and 10 per cent of net profits thereafter, from its €62 million investment in the National Aquatic Centre at Abbotstown.
The centre, originally intended as the first phase of Sports Campus Ireland on a 500-acre site in west Dublin, is to be run by Dublin Waterworld Ltd, whose principals operate the Aquadome in Tralee, Co Kerry.
Running costs are likely to be almost €5 million per annum, according to Mr Kieran Ruttledge, the company's managing director. A total of 65 full-time staff - 40 casual staff and some 25 catering staff - are to be employed in the centre.
Mr Ruttledge pointed out that there would be no Government subsidy towards the running costs of the centre, and he described the €100,000 a year as a "commercial rent".
He also said Dublin Waterworld aimed to attract one million visitors a year.
When the project was first mooted two years ago, PriceWaterhouseCoopers anticipated a private sector contribution ranging between €18 million and €29 million. In the event, the entire capital cost was funded by the Exchequer.
Construction work started in May 2001 and the centre is now almost completed.
It will open to the public next February in time to stage at least one competition to show that it is fit to host the Special Olympics in June next year.
Apart from a 50-metre pool with seating for 2,500 spectators, the centre has a 1,000-square metre leisure pool, a 500-square metre gym, and 1,350 square metres of catering facilities.
Admission prices will be €7 for adult and €5 for children.
