America's Cup bid won't be brought to Cabinet until next week

Cork looks increasingly likely to win its bid to host the yacht race but the Department of Sport has to carry out due diligence first

Michael McGrath said: 'An extensive process of due diligence is underway. And as you will expect, where a significant amount of public money is involved, it is critically important that we have our due diligence completed.' Picture: Gareth Chaney/Collins

Ireland’s bid to host the next America’s Cup in 2024 will not be brought to Government until next week, according to Micheal McGrath.

The Public Expenditure and Reform Minister said that while he accepts there is a “level of urgency” around the bid due to deadlines set by the event organisers, it is important the Department of Sport carries out due diligence.