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Published 13:00 14 Dec 2016 GMT
Updated 14:05 14 Dec 2016 GMT
On 24 August 2016 we published an article relating to the investigation by Rio Police into the alleged criminal activity concerning tickets to the Rio Olympic Games, referencing John Delaney in the headline.
This article repeated certain quotes attributed to the Brazilian police which suggested that Mr Delaney was centrally involved in matters which were the subject of a high-profile police investigation in Brazil concerning the Olympic Council of Ireland and its ticket arrangements, including the granting of a ticketing licence for Rio 2016.
We accept there was no basis for the comments we published and we accept that Mr Delaney had no role whatsoever in this matter or in any decision making regarding the granting of the ticketing licence by the Olympic Council of Ireland for Rio 2016, or any dealings with the ticket agencies, THG and Pro10. We accept that there was no wrongdoing on Mr Delaney's part. We apologise to Mr Delaney for the upset caused to him and his family, for the damage done to his reputation and apologise unreservedly to him for publishing these false allegations.
We have agreed to make a substantial payment to Mr Delaney as compensation and in respect of his legal costs.

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