THE dream of bringing one of the world's greatest sporting events, the Ryder Cup, to Gwent was set to become a reality today.

The Celtic Manor Resort at Newport, owned by Welsh billionaire Sir Terry Matthews, pictured, is to stage the golfing battle between Europe and the United States in either 2009 or 2010.

The tournament, the third biggest televised event in the world after the Olympics and soccer World Cup, is expected to generate up to £100 million for the Welsh economy and put Newport on the world tourism map.

The official announcement was being made early this afternoon by Ryder Cup Ltd, an amalgamation of the European Tour and the Professional Golfers Association, and a Press conference is due to be held at the Celtic Manor this evening.

The other major candidate to stage the event, Scotland, conceded defeat last week.

The announcement will fulfil the dream of electronics tycoon Sir Terry Matthews, a self-made man and native of Newbridge, who set his sights on the Ryder Cup after creating a world class golfing resort on the banks of the Usk.

The Celtic Manor has seen off challenges from Scotland and England and it is understood that three Ryder Cup committee representatives from the Professional Golfers' Association (PGA) favoured the Scottish bid, which comprised four courses - Gleneagles, Loch Lomond, Carnoustie and Turnberry.

But the three European Tour representatives wanted the 2009/10 tournament to be played at Celtic Manor.

The behind-the-scenes manoeuvring has led to a political row in Scotland, with some political figures there referring to "underhand tactics".

But viewed from the emerald greens of the Wentwood Hills course at the Celtic Manor, this is a distant and irrelevant skirmish.

While many leading figures associated with the bid were not commenting until the announcement was made officially, a few have not been able to contain their delight.

Sir Harry Jones, leader of Newport council, said the decision confirmed Newport as the golfing capital of Wales. It presented an opportunity to create worldwide interest in Newport and the Principality.

"We will be working to ensure that every opportunity will be taken to make good use of the huge economic benefits that the Ryder Cup will bring to Newport and the region," he said.

"Golf is the number one sport for the international business community and none of us should under-estimate the positive impact of the Ryder Cup success. We are both proud and and enthusiastic about the opportunity of welcoming the world to Newport in 2009/10."

Sir Harry said the decision would also strengthen Newport's case to be granted city status since it demonstrated that the town could successfully work with others to bring about success for the whole of Wales.

Monmouth MP Huw Edwards, who visited last year's Welsh Open tournament at the Celtic Manor, said the Welsh campaign should be congratulated for its hard work. "There has been cooperation between golfing organisations, the Welsh Development Agency, Wales Tourist Board and many others," he said.

The decision comes after the Celtic Manor was given planning permission to extend the Wentwood Hills course following opposition from several quarters. Work has not yet started on the expansion but Ryder Cup officials were impressed by the plans.