Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Planning your child’s future? Here’s how to invest via direct mutual funds
    • Understanding retail direct gilt account and how it compares with FDs and debt funds
    • Why Motilal Oswal Paused Inflows Into Its Microcap Index Fund, Should Investors Worry? | Savings and Investments News
    • Main ETFs on Bucharest Stock Exchange register robust asset growth
    • The Wealth Company MF launches Gold ETF Fund of Fund
    • Top 6 catalysts for the S&P 500 Index, VOO, and SPY ETFs this week
    • Mirae Asset ETFs outpace S&P 500, Nasdaq in 2025
    • Private equity backers offload record amount of old fund stakes
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»JP McManus to seek an extra €30m in taxpayer funds for 2027 Ryder Cup – The Irish Times
    Funds

    JP McManus to seek an extra €30m in taxpayer funds for 2027 Ryder Cup – The Irish Times

    September 7, 2025


    Billionaire businessman JP McManus is to seek a further €30 million in taxpayer funding to host the Ryder Cup at Adare Manor, Co Limerick, in 2027. The State has already provided €58 million in taxpayer support to allow Mr McManus host one of the world’s most prestigious sports events at his five-star resort.

    The Government has also invested €150 million to accelerate completion of a 7km Adare bypass, to remove unnecessary through traffic in the Co Limerick village. This investment is to ensure the bypass is completed by June of 2027, in time for the Ryder Cup that September.

    The Irish Times has learned the operational budget for Ryder Cup 2027, which covers transport, security and local authority costs, has proved grossly insufficient. This originally accounted for €14.3 million of the €58m allocation of State funding, but a further €30 million is now being sought.

    A spokesperson for the Minister for Sport, Patrick O’Donovan, confirmed the Government steering group overseeing planning for Ryder Cup 2027 would be seeking a significant increase to the operational budget. In a statement, the spokesperson said the department could not quantify how much extra in taxpayer support was being sought, but an application for additional funding would be made before December.

    “A full review of the operational budget (transport, security, local authority costs, etc) is taking place in parallel with the strategic planning to host the event which is governed by the Government steering group.”

    [ Ryder Cup 2027: Adare anticipates €160m bonanza from hosting golf eventOpens in new window ]

    The chairman of the Government steering group is Martin Fraser, a former secretary general at the Department of An Taoiseach and the current Irish Ambassador to the UK. Mr Fraser, did not respond to an interview request. Tom Enright, the project director of the golf competition’s 2027 edition, confirmed a review of costs was under way, but he did not comment on the specifics of how much extra funding was being sought.

    A source familiar with the operational budget for the Ryder Cup told The Irish Times the Government would be asked to provide significant extra funding.

    The source, who did not wish to be named, said: “Extra costs in the region of €30 million are being sought for approach-road improvements, community engagement, road widening and park-and-ride sites. Also for recruitment of additional staff for the State agencies.”

    Sources familiar with the ongoing review stressed that while costs had been underestimated, the Government was also expecting an increased return for the taxpayer. The Government’s initial projections of a €160 million benefit to the Irish economy were now viewed as “conservative”. Apart from 300,000 attendees spending a minimum of €500 each per day, most of the benefit to the economy will come from Ireland being showcased on 50 television channels broadcasting to 375 million homes.

    “It’s difficult to say exactly what the figure will be, but it will be significantly greater than €160m,” the source said.

    The last time the event was held in Ireland in 2006, at the K Club, Co Kildare, a Deloitte report concluded that it generated €143 million in direct revenue for the Irish economy.

    The last two Ryder Cups held in Europe were in France (2018) and Italy (2023). They generated €235.7 million and €262 million respectively.

    It is expected that informal discussions will take place between Mr McManus and a ministerial delegation when they meet in person at the upcoming Ryder Cup in New York later this month.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Private equity backers offload record amount of old fund stakes

    January 11, 2026

    UK private equity firms sharply increase use of offshore funds

    January 11, 2026

    Fundsmith star Terry Smith warns index funds are ‘laying foundations of a major investment disaster’

    January 11, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Main ETFs on Bucharest Stock Exchange register robust asset growth

    January 12, 2026

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    Planning your child’s future? Here’s how to invest via direct mutual funds

    January 12, 2026

    Most parents start giving serious thought to investing for their child when school fees climb…

    Understanding retail direct gilt account and how it compares with FDs and debt funds

    January 12, 2026

    Why Motilal Oswal Paused Inflows Into Its Microcap Index Fund, Should Investors Worry? | Savings and Investments News

    January 12, 2026

    Main ETFs on Bucharest Stock Exchange register robust asset growth

    January 12, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Paramount Bid for WB Discovery Backed by Saudis, Qatar and Abu Dhabi

    November 18, 2025

    Overseas investing: Which International Mutual Funds Are Open Now?

    January 3, 2026

    Is the Vanguard S&P 500 ETF a Millionaire Maker?

    October 11, 2024
    Our Picks

    Planning your child’s future? Here’s how to invest via direct mutual funds

    January 12, 2026

    Understanding retail direct gilt account and how it compares with FDs and debt funds

    January 12, 2026

    Why Motilal Oswal Paused Inflows Into Its Microcap Index Fund, Should Investors Worry? | Savings and Investments News

    January 12, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.