€8m set aside for Volvo Ocean Race stage bid

The Government has today set aside up to €8m in funding in an effort to secure an Irish stop-over for the next Volvo Ocean Yacht Race.

The event, formally the Round the World Race, is run every four years.

It covers around 39,000 miles in nine months, visiting 10 ports around the world.

It is hoped a stop-over will take place in Galway in 2009.