Ministers Catherine Martin and Jack Chambers have announced in a media release on gov.ie that Ireland is withdrawing its short-listed bid for Cork Harbour to host the 2024 Americas Cup race.

A technical feasibility assessment found that the necessary infrastructure and planning arrangements could not be completed in time for the 2024 event. Also, although hosting the race would have been a positive thing for tourism in Cork and the surrounding area, a very considerable expenditure of funds would have been required at a time when there are other major and growing demands on Ireland's treasury.

Americas Cup organizers Emirates Team New Zealand and the Royal New Zealand Yacht Squadron announced yesterday that Barcelona will host the race in September and October of 2024.