THE Tall Ships are returning to the South East.

 Waterford has announced that it has raised €450,000 in sponsorship funding to bring the ships to the city in 2011.

Waterford successfully hosted the internationally famous Tall Ships race in 2005 and preparations are advanced for next year's event which is expected to bring more than 500,000 visitors into the south-east.

Organisers last night confirmed sponsors have come on board with support  the 3 mobile telephone network, Bulmers and Waterford Crystal plus partners Waterford Institute of Technology and RTÉ.

The event is expected to cost about €3 million to host by Waterford City Council and Waterford Port Authority while Fáilte Ireland is also investing 'significant resources' in support.

The international fleet of Tall Ships is due to arrive in Waterford on 30th. June 2011, staying around the Suir estuary until July 3 when it will travel on to Scotland and then Scandinavia.