The Davin Arms which is located next to the Gaelic Grounds in Limerick is to close and up 35 staff will be affected.
The Davin Arms was built by property developer Patrick Hayes in the 1961. He also built the Oyster ballroom in Dromkeen, Co Limerick.
The Davin when it was built was one of the biggest pubs outside of Dublin.
GAA fans travelling to major games at the Gaelic Grounds made it a rendezvous to collect tickets and to have a drink before and after matches.
The current owner, Neilus Hayes, informed staff over the weekend of his plans to close the pub.
Mr Hayes yesterday confirmed that it was his plan to redevelop the site.
While talks are ongoing with a major foreign chain store, nothing has been finalised, he said.
No date has been put on the closure of the pub, he said, and much would depend on the progress of the planning process.
Mr Hayes is well known in racing circles and his horse, Back in Front, won the supreme novice hurdle at the Cheltenham festival some years ago.
He lives at a stud farm at Knockainey, Co Limerick.
Some of the staff at the Davin Arms have been there for more than 30 years.
Manager Mike Ryan has worked there for the past 23 years.