The 250m Olympic track would be the first of its kind in the country and could be ready for use in September.
With top track cyclists, including current world champion Martyn Irvine, forced to train abroad for large chunks of the year, the Dundalk velodrome will be a huge boost to the sport both locally and nationally.
Cuchulainn Cycling Club recently lodged a planning application with Dundalk Town Council to develop an outdoor track in Muirhevnamor Park, but the project took an exciting twist when an indoor facility became available. While the location won’t be revealed until Wednesday, a club source confirmed that the deal has been agreed in principle, and will include all of the ancillary elements planned at the outdoor facility, such as a BMX circuit and pump track.
It is envisaged that the overall project cost will remain the same – or possibly even decrease.
It is understood that Cycling Ireland is firmly behind the project, having shelved plans to build its own facility in Dublin, and government support is also anticipated.
The news comes on the back of Dundalk being chosen as one of the host towns for this year’s Giro d’italia, which gets underway in Belfast in May.