Former Mayo gaelic footballer Ger Feeney and local businessman Donal McEllin drowned in the waters off Inishbofin, Co Galway on Sunday.
The Marine Casualty Investigation Board and Irish police will investigate the deaths.
The circumstances are still unclear. The two men were visiting Inishbofin and had returned from the island by rib – a type of boat – to their motor cruiser. The rib was tied to the motor cruiser, so it is still unclear how the two men ended up in the water. The alert was raised when one of the bodies washed onto the shore and was found around 11am on Saturday.
Ger Feeney won a minor All-Ireland in 1971 and an under-21 winner’s medal in 1974 and played for more than ten years with the senior Mayo football team.
Donal McEllin was a local businessman who was involved in the development of Castlebar airport.