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America's Cup: Emirates Team NZ to "explore other opportunities" following negotiations failure

by Emirates Team New Zealand 15 Jun 2021 16:30 PDT 16 June 2021
Emirates Team New Zealand sailing in the AC36 Cup Match - Race Day 5 © Carlo Borlenghi

Emirates Team New Zealand (ETNZ) representing the Royal New Zealand Yacht Squadron (RNZYS) and the Government, along with Auckland Council, have concluded exclusive discussions regarding funding for the next America's Cup (AC37) following ETNZ's successful defence in Auckland of the 36th America's Cup in March this year.

During the three-month exclusive negotiating period between New Zealand agencies and ETNZ, they have not been able to reach a conclusion that works for all parties. All three parties have worked through these discussions with the best of intentions to see the AC37 hosted in Auckland, and they have not been able to reach agreement by the expiration of the exclusive period.

Emirates Team New Zealand will now commence discussions with other nations to look into options regarding hosting AC37 events.

"By all means, the end of the exclusive negotiation period does not eliminate all possibility of the event or an event being hosted in New Zealand. if resources enable an event in New Zealand we will remain open to it. But, we must explore other opportunities to ensure we can put up another successful defence. No matter where in the world we are, we will always be Team New Zealand. Our priority has always been to keep and defend the America's Cup successfully. We certainly want to explore holding a regatta in Auckland and along with discussing the venue for AC37 with other nations, would like to work through that opportunity also", said Grant Dalton.

RNZYS Commodore Aaron Young said "Whilst we also remain hopeful that the cup can stay in New Zealand it would be prudent to now explore other options as well, with the primary objective to ensure we keep the America's Cup trophy in the cabinet here at the club. As such we also understand the need to help ensure the viability of Emirates Team New Zealand so we have every opportunity to defend the America's Cup again, wherever that may be. It would be an unprecedented achievement to win the America's Cup 3 times in a row and taking the cup overseas may well offer the best chance for us to do so. At a meeting last night members were presented with this option and I believe generally understood this might need to happen."

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