In 1992, The Liffey Trust in pursuit of its objectives of Job Creation researched a number of projects deemed likely to generate wealth and employment. Dr. Séamus Mc Dermott wrote to then taoiseach Albert Reynolds with the proposal, plus a report on its feasibility to organise and promote an Inner City Formula 1 Motor Race.
Dr. McDermott explains how such a project would have not only involved all the Motor Clubs in Ireland both North and South but would have also involved close cooperation between the various agencies in the Republic and Northern Ireland concerned with Tourism, Transport, Industrial Development, etc. The proposal outlines how the race will not only create jobs but boost employment in existing businesses notably in construction, the Motor Industry, Souvenir Industry, Transport Services, Advertising, and Printing Industries.
The purpose of the race was to bring Motor Racing, at the highest level, to the Inner City of Dublin. The race, if properly organised, would have brought at least 30,000 visitors to Ireland. It therefore would have resulted in increasing our tourist trade by approximately £30,000,000 (€38 million) per annum.
Dr. McDermott had suggested that funding from the National Lottery could be used to carry out an independent report into the initiative. The proposal also includes how the race could have been developed over a 3-year plan.
- Year 1 – A Formula Ford 2000 European Championship Race.
- Year 2 – A Formula 3000 European Championship Race
- Year 3 – A Formula 1 World Championship Race.
The route proposed by Dr. McDermott was a 3.7km street circuit incorporating East Wall Road over Annesley Bridge, into Fairview, and then turning right on the link road between Clontarf and East Wall
The document (file 2022/1/176) has been released by the Department of the Taoiseach to the National Archive for public viewing and has since gained attraction across the country. You can find recent articles on the proposal in The Irish Times and the Irish Examiner.
The original proposal and report can be viewed here Formula 1 Motor Racing in Dublin Inner City Proposal 1992.
Featured Image source: www.bavariacityracing.ie