Deal agreed for stalled €73m Cork events centre

A multimillion funding deal has been agreed for the stalled, €73m Cork events centre, which could clear the way for building work to finally start later this year.

Two years to the day since the sod-turning ceremony, and amid ongoing concerns about chronic delays and soaring costs, the Irish Examiner has learned that a deal has been agreed, in principle, to bridge the funding gap. The breakthrough will see:

• The State pump an extra €10m, on top of the €20m it pledged three years ago, into the construction of the 6,000-capacity venue;
• An announcement, within days, of a state investment package, which could be worth up to €10m, in a range of supporting public infrastructure around the former Beamish and Crawford brewery site;
• A significant increase in private funding from developers BAM and the venue’s proposed operators, Live Nation, which could also be worth another €10m.