Technical team visits Cork as bid to host America's Cup heats up 

Detailed assessment of transport options to and from each of the sites and an examination of the availability of power and other utilities at each location was performed

A visit to Cork by a technical team on behalf of the Americas Cuo is proof that an Irish bid is still in the race for hosting in 2024.

A technical team has visited Cork city to assess a number of sites as part of the state’s due diligence process on Ireland’s bid to host the 2024 America’s Cup yacht race.

The visit included stops at potential race and event locations, including the Tivoli docks which have been pitched as the event’s technical and team base, and Kennedy Quay, which could host the race village.

It involved a detailed assessment of transport options to and from each of the sites and an examination of the availability of power and other utilities at each location.

The assessments, which are ongoing, will be used to determine the level of state investment which may be required to bring the sites up to a required standard for what’s claimed to be the world’s third-largest sporting event.

The visit by the technical team has been described by sources as a very positive step in the right direction following the Department of Sport’s request in September for another six months to conduct due diligence on the bid.

Sources said the site visits are proof that the Irish bid is still in the race.

But the clock is ticking with a decision from the state due on whether it wants to proceed with the bid, and move to final contract negotiations with the race organisers, expected by the end of March.

The news that the due diligence process is well underway follows the revelation at the end last year that a new America’s Cup ‘set-up’, which could save the state an estimated €80m in staging costs, had been pitched to civil servants in a bid to keep the bid alive.

The state’s concern has always focused on the additional infrastructural investment costs to stage the event which were previously estimated at close to €150m.

However, the new race set-up puts those costs closer to €50m, but with further detailed analysis advised.

Political support for the event is also building, with Cork County Council recently agreeing to write to TDs and the sports minister, Catherine Martin, seeking her support to secure the bid for Ireland.

The new race set-up included a proposal to use publicly-owned land at Tivoli docks for the event’s technical and team base instead of a privately-owned dockyard site in Rushbrooke near Cobh.

Under the new race set up, a race village would be set-up on Kennedy Quay, most of which is in public ownership.

It would be the main public and hospitality area for the America’s Cup event, hosting the ‘dock out’ show every morning and prize-giving every evening as well as the main activities around the race, including concerts, food, conference talks, large race viewing screens and live commentary.

The team base and technical area could be accommodated at Tivoli Docks, which is also in public ownership.

The state, if it decides to proceed with the bid, will have to pay up to €55m for the right to host the event and on TV rights, but a cost-benefit analysis has shown that the event could be worth an estimated €500m to the economy.