After a day of high drama, the possibility emerged tonight that all five of the planned Garth Brooks show in Dublin's Croke Park may now be cancelled.

Speaking to Hot Press earlier today, promoter Peter Aiken filled in some of the blanks in relation to how planning for the series of shows had evolved. "As the shows were sold out – first two, then three, then four – the scale of the production became bigger," he told Hot Press. "It is a huge show now, which involves an enormous investment. But the whole deal is based on there being five shows, so I can't guarantee that any of the shows will go ahead."

The crisis follows from the decision, taken by Dublin City Council, to licence just three of the five shows – a decision which, at the very least, will leave 160,000 ticket holders high and dry. Many of these are travelling from outside the jurisdiction and will have to face appalling personal losses, with flights paid for and hotels booked.

And this evening, Garth Brooks set out his own position, in a statement issued by his PR company.

"I can’t thank the people of Ireland enough for how welcome they have made me feel," the singer said. "I have faith that Dublin City Council will make the best decision for the people of Ireland. For us, it is five shows or none at all. To choose which shows to do and which shows not to do, would be like asking to choose one child over another. However this plays out, Ireland has my heart and always will."

Meanwhile, a strong sense has emerged among the business community that the damage to Ireland's reputation as a tourist destination caused by a cancellation of the shows is likely to be extremely severe, with effects that could cost businesses in the city of Dublin hundreds of millions – and ultimately the taxpayer a similar amount.

"The Not In My Back Yard syndrome has always been a problem in Ireland," Hot Press editor Niall Stokes said. "It is a dishonourable tradition that recalls the objections to gigs by The Boomtown Rats, which were scheduled for Leopardstown Racecourse, at the start of the 1980s. I don't know where else in the world a couple of hundred local objectors would be allowed to hold 160,000 people – or perhaps even 400,000 – to ransom in this way."

"The honourable thing for the residents to do now would be to withdraw their opposition to these gigs," a prominent politician, who preferred not to be named, told Hot Press. "Their concerns may have some genuine basis – that's for another day – but they are small compered to the enormous damage, both to Ireland and to all of the individuals who have bought tickets, which is being caused by this decision. If they were to withdraw, then their concerns could be addressed effectively once the concerts are over. But right now, their behaviour has to be seen as hugely destructive and selfish, when so many people will be hugely upset and negatively affected."

On RTE's 6 o'clock news, the Hot Press editor made the point that this is not just about music. "We are presenting ourselves as a country that will be able to run the Rugby World Cup," he said. "How can we credibly put ourselves forward in relation to that against a background where Garth Brooks is forced to cancel gigs like this? And the irony is that the citizens of Ireland invested a huge amount of taxpayers money in the redevelopment of Croke Park. Apparently that counts for nothing. It is just crazy that they are denied access to the venue for gigs in this way."

Meanwhile, it was reported tonight that the Taoiseach, Enda Kenny, has expressed the wish that the concerts could be saved. We'll keep you posted on updates. Watch this space.