Ardbeg unveils £1m fund for Islay after record cask sale

Islay-based Ardbeg wants to support local community projects

A Scotch whisky maker has confirmed that it is setting up a £1m fund to support community and environmental projects on Islay.

The move by Ardbeg comes after it sold a rare cask of single malt for a record £16m earlier this year.

The fund will be distributed over five years to sustainability projects and organisations such as sports and cultural groups.

The Ardbeg All Islay Fund is due to launch early in 2023.

Ardbeg's "Cask No. 3" was bought by an unnamed female collector based in Asia through a private sale in July.

Experts said the sale surpassed all auction records for a cask of single malt.

• Rare Ardbeg Scotch single malt cask sells for £16m

• Forgotten whisky cask sets £1m auction record

Applications for the new fund will be considered in association with local development organisation South Islay Development (SID).

A panel is being set up, comprising two SID directors, five members of the local community and a representative from The Glenmorangie Company.

Cask No. 3 was bought for a record £16m in July

Ardbeg chief executive and president Thomas Moradpour said: "Many people at Ardbeg have played a part in the story of the whisky that makes up Cask No. 3.

"It is only right that the community in which our distillery is rooted should share the rewards of its extraordinary sale.

"We look forward to supporting some great causes with The Ardbeg All Islay Fund and making a real difference to the island."