America's Cup may cost €9m upfront if Ireland's bid wins

Ireland's Cork Harbour — and Valencia in Spain, its main rival to host the yacht race in 2024 — are thought to have been requested to pay the fee in the event of their bid being accepted

If Ireland is successful in its bid to host the America's Cup yacht race in 2024, an upfront fee of €9m is expected to be paid. Picture: Carlo Borlenghi/Sea&See

If Ireland is successful in its bid to host the America's Cup, an upfront fee of €9m is expected to be paid. 

Sources close to the bid say the money will be payable by whichever country wins the right to host the yacht race to the organisers, America's Cup Events Ltd (ACE), on the day the successful bid is announced.