His recommendation comes after Team Ireland set a new record for medal hauls in Paris, returning with a total of seven.

A bid of that like, according to Mr. Byrne, would "virtually commemorate the sesquicentennial of Ireland's first Olympic participation as an independent State."

"There will probably be a few eye rolls at this suggestion, but I think we could start to develop a plan so that we have the world class infrastructure to host major international events and there is none bigger than the Olympics," he stated.

"Given the joy and pride that our Olympians have given to us all across the island in recent weeks, we should commit to ensuring that our country has the best facilities for them in all disciplines."

Mr Byrne added that Ireland needs to invest in "some long-term planning and setting an ambitious goal of hosting the Olympics in half a century's time should not be beyond us".

"Cynics will knock the move but let us be imaginative and explore what we would need to do as an island to achieve this goal," he added.