Thomas Byrne (Meath East, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

UEFA, the Union of European Football Associations, announced on Tuesday 10 October that Ireland will jointly host the UEFA EURO 2028 Championship with the UK and this presents a wonderful opportunity to showcase Ireland and our world-class tourism and sport offerings to Europe and the wider world.

This will be the largest sporting event we have ever jointly staged. It will also be the largest single international sporting event held in Ireland.

I can confirm that all costs have been scrutinised in great detail and a cost/benefit analysis has been carried out and all funding contributors understand the scale of costs arising. A business case has also been undertaken in keeping with the requirements of the public spending code.

An economic impact study was conducted on the value of the tournament. Taking into account that Ireland may host six games, in Dublin, it is estimated that the tournament should realise a discounted Gross Value Added (GVA) for Ireland of €189 million in 2022 prices. When benefits that accrue in subsequent years are taken into account the benefit is estimated to rise to a value of €241 million. Allowing for costs of approximately €65.6 million in 2022 prices this will yield a significant return on investment to the State.

The budget includes items such as security, local authority, transport and some stadia costs. It will be kept under review and all costs will be monitored, controlled and appropriately scrutinised throughout delivery to ensure value for money.

The State's investment in the Championship will be spread across a number of Departments and Agencies, with the bulk of the funding requirement falling due in 2027 and 2028. The key partners in this regard will be the Department of Justice (with regard to policing and security costs), Dublin City Council (fanzone sites, dressing and other infrastructure), the Department of Transport and my own Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media.

All costs arising will be addressed as part of the normal Estimates processes in the years leading up to the event.

I am satisfied that there will be a strong return on investment with this project and that it will deliver both good economic and social value for many years ahead.