State Papers: Dublin grand prix was on the Formula One grid in 1992 but never got started

The Dublin Formula 1 plan was inspired by the Monaco Grand Prix. The Liffey Trust delivered their proposal and feasibility study to Albert Reynolds' constituency office in Longford. File picture: Michel Lipchitz/AP

Plans to bring annual grand prix racing to the streets of Dublin were pushed by a local charity in 1992 but the ambitious project failed to get off the start line.

The proposal to stage a Formula 1 race on the streets of the capital was conceived by the Liffey Trust which contacted then taoiseach, Albert Reynolds, about its plans.

The charity indicated it wished to create a racing circuit for the world’s top drivers around parts of the north inner city that would replicate the famous Monaco Grand Prix circuit through the streets of Monte Carlo.

The proposed 2.3-mile (3.7km) route took in a circuit incorporating the East Wall Rd into Fairview before turning back to the city via Alfie Byrne Rd.

Séamus McDermott, who founded the Liffey Trust, and spearheaded the F1 bid, recently received an honorary doctorate from UCD. File picture: LiffeyTrust.ie

Liffey Trust founder, Séamus McDermott told Mr Reynolds he believed the event could be worth at least IR£30m each year to the Irish economy and would create hundreds of jobs and attract 30,000 additional tourists.

The charity sent a report on its proposal, together with a feasibility study, to the then taoiseach’s constituency office in Longford.

However, it is unclear if any formal response was issued on behalf of the taoiseach, although one senior official had sent a note to question if a reply had been sent to the Liffey Trust founder.

Prince Birabongse Bhanudej, Siam (now Thailand) wearing the laurels after one of Ireland's historic grands prix, the Cork Motor Derby Grand Prix at Carrigrohane in April, 1938. Irish Examiner Archive

Mr McDermott, who recently received an honorary doctorate from UCD for his contribution to public service, had suggested that funding from the National Lottery could be used to carry out an independent report into the initiative.

The details show it was envisaged that Dublin would host a Formula Ford 2000 race in the first year of the project, followed by a Formula 3000 the following year and a full Formula 1 grand prix in the third year.

The Liffey Trust estimated that the annual race could create 200 jobs for youths from the inner city.

Universally known as the 'Round-the-houses race', the International Grand Prix brought top-class motor racing right into the heart of Limerick City in 1936. Irish Examiner Archive

It also claimed the pits used for the motor racing, which would be permanent structures, could be used for enterprise projects for the other 11 months of the year.

It also envisaged providing permanent go-kart tracks which it noted should appeal to local youths who would “identify with this type of product.”