An anxious, 16-month wait is almost at an end. On the foot of an overall investment of more than £15 million, the K Club will be officially confirmed by the PGA European Tour next Friday as the venue for the 2005 Ryder Cup, at a press conference in Jury's Hotel, Dublin. And the timing comes as a major relief to Bord Failte.

"It will give us a solid base on which to promote the event in earnest," said Mark Mortell, chairman of Bord Failte yesterday. "From now until 2005, we will set about achieving the major rewards which the Ryder Cup is certain to deliver for Irish tourism."

Though Mortell was fully informed about the pending announcement - for which, incidentally, many of the Government and Bord Failte top-brass will be otherwise engaged - he claimed not to know the identity of the successful venue. "Our objective was simply to get the Ryder Cup to Ireland," he said. "We accepted that the venue would always be in the gift of the PGA European Tour."

In that context, were the Government/Bord Failte not leaving themselves open to criticism if it failed to go to a links course, as many enthusiasts here and overseas felt it should? "It would have been indivious of us to choose one venue over another," he replied. "We were happy that the European Tour had the expertise to make an appropriate decision."

There was no official comment yesterday from the Jefferson Smurfit Group, but I understand they are quietly pleased and relieved that all the speculation is effectively at an end. Having been the front-runners from the outset, they remained anxious not to set themselves up for what might have been a bitter disappointment.

Ken Schofield, executive director of the European Tour, insisted that no announcement about Ireland would be made until the PGA of America named the venue for the 2003 staging. As it happened, this came in early November when Oakland Hills received the nod, but Schofield continued to stall, indicating that we wouldn't be told before Easter.

The Tour now appears to have responded to growing media speculation and not a little pressure from Dr Michael Smurfit, who insisted that he needed an early decision if various developments to The K Club were to be undertaken. These include a major extension to the five-star, on-site hotel.

Now, he can reflect somewhat nostalgically on a fascinating happening in the wake of the 1989 Ryder Cup at The Belfry. On the Monday morning, John Lindsay, the then executive director of the PGA, announced the candidates for the next European staging, in 1993. To everybody's surprise, the list included "The Kildare Golf and Country Club", which wouldn't be open for play until July 1991. Smurfit had put down his marker.

Since then, his organisation have made a major investment in tournament golf, building on their support of the Irish Professional Championship. Starting in 1995, they became the main sponsors of the European Open and are now entering the second year of a second, three-year contract.

Prize money was increased last August to a staggering £1.5 million and, no doubt, will continue to rise. The company also make a significant, annual contribution - believed to be in the region of £200,000 - to the Cannes Open. So, over the current, three-year period, they will be enriching the coffers of the European Tour by more than £5 million.

There will also be a substantial, undisclosed contribution for the privilege of actually playing host to the Ryder Cup. It is believed that in the case of Valderrama's owner, Jaime Patino, this amounted to £5 million for the 1997 staging.

Clearly, where the Ryder Cup is concerned, money talks. And Mortell was left in no doubt on that particular point during his first business meeting with Schofield in April 1997. "He told me that his responsibility was to get as much money as possible out of the Ryder Cup for the benefit of his members," recalled the Bord Failte chairman. "This was to form the basis of the Government's strategy."

It led to a commitment of £7 million to the European Tour, half of which would come from the Government and the other half to be split among supporting sponsors Aer Lingus, AIB and Waterford Crystal. As a result, Bord Failte is to have a promotional presence at 14 Ryder Cup qualifying tournaments, building up to this year's staging at Brookline next September and again in 2001, 2003 and, of course, 2005.

With money the key, there is little point in purists complaining that the event is not going to the superb links terrain of Portmarnock, which is so representative of what this country has to offer the golfing tourist, particularly from the US.

Mortell accepted the ground rules. So did Michael Smurfit. That is why both men now have reason to be pleased with the outcome of their negotiations.

The other leading applicants were Portmarnock, Mount Juliet and Druids Glen, while Portmarnock Links, Ballybunion, The European Club and Waterville also threw their hats in the ring. In the end, The K Club have landed the prize because they had most to offer the European Tour.