Auckland event planners said that "the logical space" to hold the next America's Cup defense is Halsey St. Wharf on the city's waterfront and "would come with a billion dollar economic benefit to New Zealand," according to the NEW ZEALAND HERALD. Auckland Tourism, Events & Economic Development CEO Brett O'Riley said that extending Halsey St. Wharf could cost NZ$80M-NZ$100M ($58.2M-$72.8M). But that cost "might be avoided if Team NZ opted for a single-hull contest in four years' time," requiring less space than the catamarans sailed in Bermuda. Either way, he said that the costs "would be likely to be outweighed by the economic benefit." O'Riley: "We know from the America's Cup last time that the return to the economy was more than NZ$500 million, and we know that NZ is a bucket-list destination for people to visit." Local businessman Ralph Norris said that the economic benefit for New Zealand could exceed NZ$1B ($730M). He said, "There's no doubt the economic benefit that accrues for New Zealand, in particular Auckland, is going to be significant as far as a defense is concerned." But it is "not just Auckland" that would benefit. NZ Marine Industry Association CEO Peter Busfield said that Team New Zealand's win "meant economic gain and more opportunities for the country." He expected the win to inject up to NZ$500M ($364M) into the marine industry over the next few years (NZ HERALD, 6/27).
CLOSE CALL: In Auckland, Dana Johannsen reported Team NZ boss Grant Dalton revealed "just how close" the team was to folding as it "struggled with money." Until winning the Louis Vuitton Cup qualifier on June 12, Team NZ could not "afford to pay sailors' salaries." Only a "last minute bail-out from an overseas donor allowed Team NZ to stay afloat." Dalton: "We were past shutting our doors. ... We had a directors meeting that afternoon, we decided we had to shut. I worked through that night and came up with some money by daybreak, and here we are." Dalton "would not say" who helped Team NZ stay alive (NZ HERALD, 6/27).
