Cork County Council is to continue its partnership with the Ironman triathlon organisation and next year's event is set to go ahead as planned.
There had been calls for the local authority to remove its support after two competitors died when they got into difficulties during the swim section of the Ironman 70.3 event in Youghal last month.
In a statement to councillors, Chief Executive Tim Lucey said that after considering accounts of what happened from both Ironman and Triathlon Ireland, and "our current agreement with Ironman", the local authority will continue to support their event planned for 2024.
"This event is of significant tourism and economic importance to the region having already generated an economic impact of almost 20 million euros, a continuation of which Cork County Council would wish to see", he said.
The council as host sponsor has supported the Ironman triathlon events in Youghal and East Cork in 2019, 2022 and 2023.
"As part of this arrangement, Ironman is the owner of the event. Ironman has sole responsibility for the management and co-ordination of the event, this responsibility includes to run the event with due care, skill and attention.
"The matter of the sanctioning of a permit by Triathlon Ireland such that a triathlon is run under federation technical rules is a separate matter between Ironman and Triathlon Ireland. This is a matter which will be determined between both parties independently of Cork County Council", he concluded.