Team New Zealand "appears set to receive funding from the Government again," according to Johannsen & Trevett of the NEW ZEALAND HERALD.
The news comes as unconfirmed reports point to Auckland "as the venue for the next America's Cup qualifying series."
Economic Development Minister Steven Joyce "refused to confirm the funding" on Tuesday, but "repeated his claim that if New Zealand was confirmed as a venue for the qualifiers 'that would make us much more interested in sponsoring the team.'"
America's Cup organizers "reportedly made that decision this week, telling teams but waiting until next month to make an official announcement." The delay is understood "to be for the Government to finalise its funding." Team NZ has said that "it would struggle to mount a challenge without it."
However, the amount the Government will contribute to Team NZ's America's Cup bid will be "significantly less" than the NZ$36M ($27M) Team NZ wanted. An America's Cup spokesperson confirmed that the venues "had been chosen with the 'required information published to the teams'" (NZ HERALD, 2/18).
