Barcelona has been named as the host city for the 37th America’s Cup to be staged in 2024.

Cork withdrew as a potential host city at the 11th hour on Monday after the Government decided not to proceed, a similar decision to that reached by New Zealand who won it on home water last time out and would by tradition have staged it once more.

On Monday night the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media issued a statement which said that “While Cork Harbour is potentially a great venue for the event, based on the technical assessment carried out the necessary infrastructural and planning arrangements would not be in place to host the event in 2024.”

“An event of the calibre of the America’s Cup brings with it an expectation of excellent delivery but the tight timeframe available prior to the 37th edition of the event brought with it a large risk of under-delivery.”

Any event of this size and the global scale does require significant front-loaded investment and while the rewards would have been there, the circumstances and the demands on the exchequer at a time of emergence from Covid and with the war in Europe were seen as potentially too great a risk.

It is a shame and it may be that the opportunity will arise again at a time when there is a greater level of stability in the world economy and at least for sailing fans it is going to be held in Europe.

The America’s Cup has only been staged twice here, in Valencia, since it was originally hosted in the waters of the English Channel in 1851.

Perhaps that is part of the reason why its appeal has been mainly limited to the sailing community and with just a sense of curiosity from the wider sporting public.

As an island nation, there is a logic to our having an interest and we do sailing events very well when they come but this is at another level altogether and that is clearly what was ultimately in the mind of the Department officials who have chosen head over heart and left the spoils to Barcelona.

Here then is what it might look like in the waters of the Mediterranean.