The GAA has said that “due diligence processes" set up after one of the construction companies lined up to redevelop Casement Park went into administration has yet to be completed.
The association and Stormont officials launched the exercise after one of the construction firms behind a joint venture filed a notice of intention to appoint administrators in August.
Buckingham Group has since gone into administration owing more than £108m.
It has been reported that parts of the failed business have also been sold off.
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It was appointed along with Co Derry company Heron Bros to redevelop the landmark GAA facility in west Belfast in 2013.
The GAA, Department for Communities (DfC) and Stormont's Central Procurement Directorate, which is part of the Department of Finance (DoF), later launched an exercise to "assess the potential implications" of events on the project.
It is not known how the collapse of Buckingham Group will impact the current joint venture contract to redevelop Casement Park.
Soccer chiefs at UEFA have confirmed that the proposed 34,500 capacity stadium is included in the joint Ireland/Britain bid to host Euro 2028.
The GAA's Ulster Council did not respond directly when asked if the contract to redevelop Casement Park will now need to be retendered.
In a statement, Ulster Council official Stephen McGeehan confirmed the “due diligence processes" are ongoing.
“Firstly, it was very disappointing seeing the news regarding Buckingham Group: they have been part of the joint venture with Heron Brothers, based in county Derry, for over a decade now,” he said.
“There are clearly commercial sensitivities involved so we won’t get into that in too much detail, except to say that our due diligence processes are continuing.
“We’re making progress, and we remain confident that, despite the difficulty that beset the Buckingham Group, our joint venture partnership may proceed, and we will be able to start work at Casement Park in the new year.”
Both the DfC and DoF were contacted.
The DoF referred the Irish News to DfC, which in turn said: “We would refer you to UCGAA on contractual and commercial matters.”
The redevelopment project has been dogged by delays as a result of legal challenges by some local residents and the site has lain dormant for a decade.
It is estimated the overdue building project will cost around £160m to complete, with the GAA set to pick up just £15m of the total.
The project was initially budgeted at £77 million.
Both the Irish and British governments have signalled that the extra cash needed will be found.
While the original Casement contract was agreed a decade ago, the GAA and DfC published a VEAT (voluntary ex-ante transparency notice) in July to notify the construction market of their "intention to modify the existing works contract for Casement Park, with the incumbent contractor HBJV".
The VEAT notice allows for a contract to be awarded to a provider without competition where it is believed an organisation is in a unique position to deliver a service that meets the commissioner's needs.