Irish Examiner view: Disappointment as America’s Cup bid scuttled

Disappointment for Cork as America's Cup bid gets the thumbs-down.

Luna Rossa Prada Pirelli (R) competes against Emirates Team New Zealand during race ten on day seven of the 36th America's Cup in Auckland on March 17, 2021. Picture:  Gilles Martin-Raget / AFP

Back in September, when it was clear that central Government heel-dragging was accompanying Cork’s ambitious bid to host the America’s Cup, we observed that there was no more certain way of putting a plan into deep freeze than muttering darkly about due diligence, quantifiable returns, and value for money when event organisers want to see some enthusiasm on the part of potential partners.

And so it has proved. After seven months, the Department of Tourism, Culture, Arts, Gaeltacht, Sport, and Media has stopped sitting on its hands and made a decision. And the signal has been a thumbs-down. The hatches have been opened and the project scuttled.

Supporters point to the potential loss of a blue riband event which would have enhanced the reputation of the nation at a time when Cork City is trying to project itself as a major
international location with big plans for improved infrastructure, eco-living, and quality of life.

While the State would have had to pay up to €55m for the right to host the race and for TV rights, a cost-benefit analysis has shown that it could have been worth an estimated €500m to the economy.

Spectators wait for the start of day seven races of the 36th America's Cup between Luna Rossa Prada Pirelli and Emirates Team New Zealand in Auckland on March 17, 2021. Picture: Gilles Martin-Raget / AFP) (Photo by GILLES MARTIN-RAGET/AFP via Getty Images

Lost opportunity or costly project?

The timing could have offered a much-needed boost as businesses attempt to recover from Covid-related losses, said Paula Coogan, president of Cork Chamber, which has described the decision as disappointing and short-sighted.

Opponents point to the challenging timescale for delivery of a major project, now less than two years away, given what has proven to be the nation’s relatively poor recent record on providing event centres, hospitals, and sport stadia.

There had been scepticism about the level of economic returns and assessment visits earlier this year including to Tivoli docks, the proposed technical and team base, and Kennedy Quay, which was suggested as the site for the race village, resulted in the decision to withdraw announced in a statement on Monday evening.

“The tight timeframe available prior to the 37th edition of the Cup brought with it a large risk of under-delivery,” it said.

Although the department had done an energetic job in conditioning expectations, there will be an inevitable sense of disappointment that Cork has missed an opportunity to promote itself worldwide. And a lingering sense that an event that has more appeal for the elites than ordinary citizens, and which was not sufficiently Dublin-centric to command political heft, was unlikely to be seen to be worth the risk.