Cork County Council was the host sponsor of the Ironman event in Youghal Co Cork last Sunday.
Brendan Wall and Ivan Chittenden died during the event on Sunday.
In a statement the local authority said that Ironman is the owner of the event and has "sole responsibility" for the management and co-ordination of same.
"This responsibility includes to run the event with due care, skill and attention.
"The responsibility of Ironman extends to providing all race-related equipment, supplies, personnel (including volunteers and a local race director), training of personnel (including volunteers), Racecourse set-up, route determination and design and all other technical and operational aspects of the race."
The council says that their responsibilities are limited to the organisation of road closure permits, the use by Ironman of certain council facilities in Youghal. The provision of extended cleansing operations, the provision of waste collection, utilities and storage areas.
"The council has also provided temporary, serviced and staffed public conveniences for use by visitors and spectators. In conjunction with the business interests in Youghal, the Council also arranges for a food market for the IRONMAN weekend and, in 2023 Cork County Council provided the lead vehicle for the bike route."
The Ironman group has said that their priority remains providing "ongoing support and care" to the families of the athletes as they go through this very difficult time.
In a statement issued this evening, the group said that whilst their events are "physically challenging" the safety and security of athletes is the most important operational element of such fixtures.
"IRONMAN has extensive and stringent, industry-leading safety guidelines and protocols, honed to the highest international standards, and implemented at events worldwide.
"Weather conditions for this past weekend’s IRONMAN Ireland, Cork and IRONMAN 70.3 Ireland, Cork were monitored carefully. On Saturday morning IRONMAN Ireland officials and swim safety experts declared the swim course unsuitable for racing and decided to reschedule the IRONMAN 70.3 triathlon for Sunday, alongside IRONMAN Ireland, Cork to provide a safer race for athletes.
"On the morning of Sunday 20 August, IRONMAN Ireland officials and the specific on-swim safety team carried out all standard safety protocol checks that are completed at every race and determined water conditions were safe for the swim to take place.
"While conditions were improved from Saturday, out of an abundance of safety, it was decided to shorten the swim course for both races. "
The group added that they work in collaboration with National Federations around the world as they organise over 150 IRONMAN and IRONMAN 70.3 events annually.
"As such, federation representatives were present during the event and performed their duties. Several hours after the swim was completed, they communicated to the onsite IRONMAN Ireland officials that they would not approve the sanctioning for the event.
"Our thoughts continue to be with the family and friends of the two athletes who passed."
