Cork could be in line to host the world's largest sailing event.
It is expected that Minister for Foreign Affairs Simon Coveney will, this morning, tell Cabinet that Ireland has been shortlisted as a potential location to hold the America's Cup in 2024.
RTÉ reports that Cork Harbour has been scouted as the location by a team of specialists for a team village, wind speeds and a racing circuit.
The event took place in New Zealand on the past three occasions, but is expected to be held elsewhere in 2024.
Hosting this event is believed to have been worth between €350 million and almost €600 million to New Zealand's economy.
The America’s Cup was first contested in 1851 making it the oldest trophy in international sport.