Fota IslandFota Island in Cork is expected to be named today as the venue for the 2014 Irish Open Golf tournament. The venue last hosted the tournament in 2002 but has been revitalised by investment from the Kang family which owns hotels in Shanghai and Beijing.

The resort was bought in the middle of 2013 for what is believed to be a sum of around €20 million from Nama.

Confirmation of the hosting of the Irish Open which will take place in June is expected today though there is not believed to be any positive news on a new sponsor. This means that Fáilte Ireland will again be the headline partner for the tournament which last year attracted television coverage from around the world and would be largely responsible for continued strong returns on golf tourism.

European Tour officials were in Cork last week to finalise the deal and it is also thought likely that a new locally based sponsor may be added to the list of blue chip supporters which includes BMW, Emirates and Bushmills.

Both Apple and EMC2 have major plants in and around Cork and either would be a major boost to have involved at some level.

Sport for Business will take a closer look at the likely benefit for the region from hosting the event in our regular Sports Tourism column on Friday.