The Irish Open looks set to be played at Cork's Fota Island resort in summer 2014.

Sources close to the European Tour have stated that the event is close to finding a new backer, according to a report in the Irish Examiner.

The Irish event has been without a title sponsor for the past three years and reports claim that this year's prize money will be in excess of €2million.

Carton House in Kildare, Royal Portrush and Killarney have all hosted the tournament over the last three years.

Fota Island has previously staged the event back in 2001 and 2002.

Next summers event is due to be played between the 19th and 22nd of June.