Paul McGinley says it's 'more likely than not' Portmarnock Golf Club will stage the Open, but warned it could take 10 years for it to happen.
In early October the R&A said it was 'keen to investigate the possibility' of taking golf's oldest major outside of the United Kingdom.
It was off the back of Rory McIlroy letting slip the R&A were thinking of adding a new course to its Open rota.
"I think there's every chance the R&A are seriously looking at it," the 34-year-old previously said. "It would be fantastic."
McIlroy explained there was a lot to be considered when choosing an Open venue, but pointed to the fact Portmarnock is close to a major city and major airport as being beneficial.
More than 100,000 spectators descend upon the Open every year.
Portmarnock is situated 10 miles north of Dublin. The 129-year-old links course is widely considered one of the best courses in Ireland.
Former Ryder Cup skipper McGinley offered his thoughts on the matter to the Irish Independent, explaining: "I think it's a reality and it's got more chance of happening than not happening, but the timeline is open.
"A lot of ducks have to be lined up before it could happen. But it's certainly a potential reality. Who would have thought that 10 years ago?
He added: "It will take a lot of boxes for the R&A commercially and while St Andrews is unique, Portmarnock is as good as or better than anything on the current rota. The biggest challenge is getting in and out
"With the Ryder Cup in 2027, wouldn't it be wonderful to have something in the diary for 2030? But I think that timeline's too short. I'd say realistically, we're looking at nearer to 10 years from now."
Portmarnock has staged the Irish Open on 19 occasions and also hosted the Men's Amateur Championship in 2019.
One obstacle for Portmarnock hosting the Open and Women's Open was removed in May 2021 when the club voted to admit women members for the very first time.
Royal Troon will host the 152nd Open over 14-21 July next year.
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