“We felt with having over 13,000 competitors, 200,000 spectators, over 14,000 bed nights, and an economic investment of over £6m and £8m, that we were well within the criteria to receive the funding,” Mr Devlin told BBC Radio Foyle’s North West Today programme.
“It is disappointing and bewildering to hear the funding application had been turned down,” he added.
The Foyle Cup has in previous years successfully applied for Tourism NI funding.
Mr Devlin said this year’s event would still go ahead.
The funding shortfall will be made up by private sponsorship and from the coffers of the Derry and District football association – the body which runs the Foyle Cup.
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