was decided to redevelop the Athletic Grounds as an alternative, and additional land was acquired from the Munster Agricultural Society, whose premises adjoined the Athletic Grounds. The new stadium area covered almost 9 acres, with works undertaken by HMC Construction Ltd. Work began in April 1974, though details of the new stadium "of the most modern design and facilities" weren't unveiled until a press conference took place in the Imperial Hotel, Cork on 26 July 1974. The new stadium was estimated to cost approximately £1 million, but ultimately overran to £1.7 million. Known as Páirc Uí Chaoimh, in commemoration of the late general-secretary of the GAA, Pádraig Ó Caoimh, the stadium was to have a capacity of 50,288. Designed by the Cork city firm of consultant engineers, Horgan and Lynch, Páirc Uí Chaoimh was designed to have seating for 19,688 spectators, half of which would be under cover on the southern side of the ground. Long-term plans envisaged the extension of the stand all around the stadium. Included underneath the stadium structure were a number of facilities, all served by the main circulation tunnel. Finance The Cork County Board were faced with a bill of £650,000 to cover the first stage of the development, which at the time was the biggest undertaken by any sports organisation in Ireland. In addition to grants from the GAA's Central and Munster Councils, finance for the project was raised by the sale of the Board's 45 acre property at Model Farm Road, and a sizeable part of 49 acres on the north side of the city. The Board's offices on Cook Street were also sold, while further funds were raised through Coiste Gael and commercial and private subscriptions. Additional funds were raised through the sale of 88 advertising spaces within the stadium and the sale of 3,000 five-year stand tickets at £30 each. Official opening Páirc Uí Chaoimh was officially opened on 6 June 1976. by Con Murphy, then president of the GAA. On the opening day the Cork hurlers played Kilkenny while the Cork footballers took on Kerry. Concerts The 1970s oil shocks increased interest rates and the Cork County Board was unable to repay the loan on stadium's building cost. Local promoter Oliver Barry instigated the (), a weekend festival of country, folk, and Irish traditional music held annually in the stadium from 1977 to 1987. Opposition from GAA traditionalists was overcome