Waterford has started an ambitious campaign to bring the Tall Ships race to the city in 2005.
There may be six years to go, but such is the competition to host the event, which generated huge excitement and £30 million of spending in Dublin last year, that the lobbying has already begun.
A high-level delegation from the city including the mayor, Mr Pat Hayes, the Minister of State for Finance, Mr Martin Cullen, and the city manager, Mr Eddie Breen will be in London this week for a conference at which the host ports for the 2003 event will be chosen.
While no official announcement has been made about the bid, the corporation has set aside £50,000 for its Tall Ships campaign in its draft estimate of expenses for 2000,a copy of which has been seen by The Irish Times.
City businesses are enthusiastic about the possibility of the event coming to Waterford.
"It would be great from several viewpoints," said a Chamber of Commerce spokesman. "It would bring favourable international publicity to Waterford and bring in substantial tourism revenue. Waterford has a fantastic river asset that is under-utilised, and this event would be ideal for the city."
The London conference, which begins tomorrow, is organised by the International Sail Training Association, which also organises the Tall Ships races for the Cutty Sark trophy. At least two races take place every year, with the aim of "getting young people of all nations to race together at sea under sail".
Waterford will no doubt hope to match, or even surpass, the entertainments organised for the event in Dublin last year.