Costello helped establish the program of excellence for the Canada men's national junior ice hockey team, and oversaw the foundation of the Canada women's national ice hockey team, and the inaugural 1990 IIHF Women's World Championship. In addition to his work on Canadian national hockey, he spent 15 seasons as an executive in the Western Hockey League, and another 14 years as an International Ice Hockey Federation council member. Costello is inducted into the Hockey Hall of Fame, the IIHF Hall of Fame, Canada's Sports Hall of Fame, and is an Officer of the Order of Canada, and a recipient of the Order of Hockey in Canada.