Fears in Cork as deadline looms for Irish bid to host 2024 America's Cup

With just 13 days to go, a 'coalition of the willing' stakeholders all around Munster is ready to row in behind a bid for the event

Fort Camden, Crosshaven, and Roches Point in Cork Harbour as well as the wider region are the centre of attention as the Department of Tourism remains tight-lipped about the possibility of bidding to host the America's Cup there. Picture: Denis Scannell

The clock is ticking on Ireland’s hopes of hosting the 2024 America’s Cup race with just 13 days left for the Government to decide if the country should bid for it.

Race organisers are due to announce their preferred venue on March 31, with Jeddah and Malaga already locked into the bidding process.

The Department of Tourism, which has been conducting due diligence for several months on a possible Irish bid focused on Cork Harbour, remains tightlipped on the process.

Minister Catherine Martin’s department did not answer a list of specific questions from the Irish Examiner about what work or reports it has commissioned or received as part of the due diligence process, and about whether it will have made a recommendation to government about a possible Irish bid before the March 31 deadline.

Members of the New Zealand team celebrating a previous win hoisting 'the Auld Mug', the America's Cup trophy, in Auckland, New Zealand. Picture: Anthony Au-Yeung/Getty

It instead issued a two-line statement, stating: “The department has been engaged in an assessment aimed at evaluating the potential of this event and whether or not Ireland should move forward in the host venue bid process. This process will inform any possible decision on whether or not to recommend the hosting of this event to government.” 

Government sources said the minister is acutely aware of the timeline but they refused to be drawn further.

But the fact that a decision has come down to the wire has fuelled concern in Cork that the opportunity of hosting one of the world’s biggest sporting events could be lost.

An EY report last year suggested the event could be worth an estimated €500m to the economy, could attract a staggering 2.5m visitors to the country, generate at least 2,000 and possibly up to 4,000 jobs, and lead to a raft of long-lasting legacy benefits.

But there were concerns about the then €150m staging costs for what's seen by some as an elite sporting event.

Cork Chamber president, Paula Cogan, said they have requested an update by next week: 

The Government has had a huge amount on its plate in recent weeks and we certainly don’t want to interfere in the due diligence process, but the deadline for this is looming.

“At this particular moment in time, it is difficult for government to be seen to be putting substantial investment into an international sporting event.

“But in 18 months' time, when this event is due to take place, we could, and hopefully will be in a different economic and cultural space.” 

She said a “coalition of the willing” — various stakeholders from all over the Munster region — has been identified and stands ready and willing to row in behind any formal bid.

The Irish Examiner broke the story last summer that Ireland was considering a bid for the event, focused on Cork Harbour.

Cork was understood to be the front runner but just as race organisers were poised to announce the preferred venue, the Government requested six months to analyse the costs.

Race organisers announced an extension to the bidding process and, by Christmas, a new race ‘set-up’ option for Cork had emerged, which could save the state up to €80m in staging costs, by using publicly-owned land for race teams and on-shore events.