Team New Zealand said Auckland won't host the next America's Cup after the event failed to get government backing.
Last month, it was confirmed the team and Auckland Council's events arm, Tātaki Auckland Unlimited, were keen to hold the event in Aotearoa.
Photo: LLUIS GENE / AFP
In a statement on Tuesday, Team New Zealand said it's "been exploring he possibility of hosting the 38th America's Cup in the city, with the understanding it would take a combination of private backing, local government and central government support to make it happen, but not at the expense of funding other priorities in the tough economic climate".
Team New Zealand said it's disappointed but understands why the government has made its decision.
"The team have had comfort in the level of private support and have been working with Tātaki Auckland Unlimited who have been proactively spearheading the bid. So, it is with both disappointment and understanding to hear MBIE and Central Government have decided not to back the 38th America's Cup in Auckland in 2027.
"While the significant economic benefits of hosting the America's Cup and other major events are well proven, such as $1.9 billion of economic benefits in Barcelona in 2024, we understand there are other priorities for the New Zealand Government right now."
The next America's Cup won't be held in Auckland. Photo: Georgia Schofield / www.photosport.nz
Team New Zealand successfully defended their America's Cup title in Barcelona last year.
Auckland Council's Tātaki Auckland Unlimited (TAU) also released a statement confirming that Auckland won't host Team New Zealand's next defence of the Auld Mug.
"The America's Cup is a fantastic sporting event that provides significant benefits to the host city and country, so it is with great disappointment that Tātaki Auckland Unlimited (TAU) confirms that Auckland is unable to proceed with a bid to host the next America's Cup 38 in 2027.
"Auckland's bid was contingent on a three-way funding partnership between Auckland Council, central government and the private sector. MBIE has informed TAU that the government is unable provide the funds required and on that basis the bid cannot proceed.
"The TAU team has worked incredibly hard to try and make this opportunity work for Auckland; we already have the infrastructure and major events expertise in place and really wanted to be able to host our sailors on home waters."
Auckland Council said it would support hosting any future America's Cup events in the region.
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