A major two day music festival will take place in Derry in September, the Journal can exclusively reveal.
The Journal understands that initial local investment amounts to approximately £1,000,000.
It is also believed the event will attract well known international bands and singers.
The festival will be staged in Ebrington Square and the Journal understands MTV are rumoured to be involved.
It is expected the two day music festival will be confirmed by Derry City Council over the coming days.
When contacted yesterday, Sinn Fein Councillor and Chairperson of Derry City Council’s Development Committee Elisha McCallion was reluctant to comment but did say she was “quietly confident” something could happen.
“At this stage I can’t say too much but I would be quietly confident if we can collectively work together as one we can make this happen for our city and particularly our young people.
“Many people have said that last year that Derry came of age during the City of Culture and it opened up a new chapter in our city’s history and offered new hope for our young people. With the ‘BBC Radio One’s Big Weekend’ being one of those massive standout success stories. Sinn Féin has been calling for a large scale festival since ‘BBC Radio One’s Big Weekend’,” said Colr. McCallion.