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The Department of Sport has formalized the country’s policy on hosting major events, prioritizing economic return and sporting benefit. This has led to the rejection of Simon Coveney’s bid to bring the America’s Cup to Cork, which claimed it would add €500 million to the economy. However, the Department of Sport did not bite, citing the potential cost of €200 million. This highlights the need for a more rigorous cost-benefit analysis for potential proposals.
Another trend in Irish sports is the use of Annual Economic Impact Reports, commissioned by sporting bodies to justify government funding. Horse and Greyhound racing were the first to adopt this strategy, with the FAI and GAA following suit. These reports use generous definitions and complex methodology to produce the largest top-line figure possible, in order to secure funding. While these reports are not dishonest, they are a means of getting more funding for these sports.
It is important to note that all of these sports deserve funding, particularly football which has suffered from underinvestment for decades. However, the use of economic impact reports may not accurately reflect the true impact of these sports on the economy. It is important for the government to carefully consider the methodology and data used in these reports before making funding decisions.
In conclusion, while the Department of Sport’s policy on hosting major events and the use of economic impact reports may have good intentions, there is a need for more transparency and scrutiny in these processes. It is important to prioritize the true value and impact of sports, rather than just their economic benefits.