Update on Cork's long-awaited events centre funding due before budget

The long wait for a decision on additional funding for Cork’s proposed events centre may be over within a matter of weeks, with the Tánaiste stating that he expects an update before the budget.

Initially, the consortium that won the tender for the centre, Bam and Live Nation, was expected to benefit from €20m in State funding — which was later increased to €50m and then to €57m.

It was revealed at a Cork City Council meeting in December that additional funding would be required for the project — which was due to inflation and following the completion of a detailed design.

The events centre, set to be built on the site of the former Beamish & Crawford brewery on South Main St, has been a long-term objective for the city.

Asked by media this week if there would be an update on the funding request before the budget on October 1, Tánaiste Micheál Martin said: “It’s not a budgetary item, to be frank.

“It’s an estimates item, but it’s not something for budget day.

“I’m impatient for progress on this but we are making progress and hopefully there will be news before budget day,” Mr Martin added.

In a statement to The Echo last month, a spokesperson for Bam said the firm’s commitment to deliver a “world-class, versatile venue to Cork remains absolute”.

“Bam will construct this landmark performance venue and, in partnership with Cork City Council and Live Nation Gaiety, this project will revolutionise Cork’s cultural scene and deliver a huge boost to the city’s businesses,” said the spokesperson.