Live Nation concern at event centre provisions

Entertainment giant Live Nation Ireland pulled out of the Cork events centre selection process because of "significant concerns" over funding agreements and penalty clauses.

And it said following legal advice, it was advised neither bidder — O’Callaghan Properties, which has planning for a €50m venue on Albert Quay, or BAM/ Heineken Ireland, which has planning for a similar venue on the former Beamish and Crawford site — was likely to be in a position to submit a compliant bid by last Friday’s final tender deadline.

Both developers are vying for up to €16m of public funding as part of a tender process being overseen by consultants PwC.