Ireland, France, Italy, or South Africa will host the tournament
Ireland's bid to host the 2023 Rugby World Cup has taken another step forward as the Government has written a letter offering a €320m guarantee for the bid.
A document seen by The Irish Examiner says that the guarantee includes a €120m payment to host the tournament and a further €200m to cover the cost of redeveloping stadiums and policing the event.
The Cabinet agreed to underwrite the cost and gave Sports Minister Shane Ross formal approval to proceed with the bid at its final meeting before the summer break.
Applications to host the tournament must be submitted before September 1st.
This is an all-Ireland bid and 85% of the cost will be guaranteed by Dublin, with Northern Ireland covering the other 15%.
The Irish bid hopes that most of these funds will be recouped if the tournament is hosted here.
Ireland faces stiff competition from France, Italy, and South Africa.
Former-Irish international Brian O’Driscoll, IRFU chief executive Philip Browne and former-Tánaiste, Dick Spring will all sit on the oversight body for the 32 county bid.
12 stadiums will be included in the bid: Dublin's Croke Park, Aviva stadium and RDS, Thomond Park in Limerick, Casement Park and Kingspan Stadium in Belfast, Cork's Pairc Uí Chaoimh, Fitzgerald Stadium in Killarney, McHale Park in Castlebar, Galway's Pearse Stadium, Celtic Park in Derry, and Nowlan Park in Kilkenny.