Punchestown, which was forced to call off this week's National Hunt festival because of problems with racecourse drainage, has been allocated the 2003 European three-day event championships.
The decision was made at a meeting of the International Equestrian Federation (FEI) bureau in San Francisco yesterday, but is contingent on a satisfactory outcome to current negotiations over the non-payment of a £1.2 million guarantee owing to the FEI after Ireland pulled out of staging the 1998 World Equestrian Games.
The case is due to be heard in the High Court later this year, but high level negotiations between the FEI and the Irish Government are expected to agree an out-of-court settlement for substantially less than the £1.2 million involved. The FEI had originally sought a £4 million guarantee from Bord Failte, but this was reduced to £1.2 million some time before the scheme finally collapsed and the Games were reallocated to Italy.
It is rumoured that an offer will shortly be made to the FEI, but that final details have still to be agreed between the two parties.
Punchestown last staged the European three-day event championships in 1991 and it was the success of those championships - at which Ireland took team bronze - that gave Ireland the edge over opposition bids for the 1998 World Equestrian Games.
