America's Cup: NZ Government declines funding of America's Cup in Auckland.

The 38th America's Cup is Euope bound © Hamish Hooper

Emirates Team New Zealand has confirmed that MBIE and Central Government have decided not to back the 38th America’s Cup hosting in Auckland.

Since winning the 37th America’s Cup in October last year The Royal New Zealand Yacht Squadron and Emirates Team New Zealand have been intent on exploring the possibility of hosting the 38th America’s Cup in Auckland with the understanding it would take a combination of private backing, Local Government as well as Central Government support to make it happen, but not at the expense of funding other priorities in the tough economic climate.

In this time, the team have had comfort in the level of private support and have been working with Tataki 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 €1.034b ($1.9b NZD) of economic benefits in Barcelona in 2024, we understand there are other priorities for the New Zealand Government right now.

Meanwhile top European sailing journalist Fabio Pozzo, writing in the Italian newspaper La Stampa reports that Athens and Naples are the likely venues.

"There are two European cities in pole position to be the venue for the Cup. The first is Naples, which has already presented its candidacy to host one or more stages of the SailGp and which has already hosted in the past - with incredible public success - the ACTs leading up to the Louis Vuitton Cup, and which offers an ideal gulf for sailing and the necessary glamour (see Capri, etc.). In addition, there is an Italian team in the running, Luna Rossa, and this is not an insignificant detail.

The second city in pole position is Athens, which would be making its debut in the panorama of the Cup, but which has already hosted the Olympics and other major sporting events and which probably, after the dark years of the economic crisis and the forced bailout by the troika, which avoided collapse and allowed the country to remain in the EU, needs a major event to turn "the lights" back on.

In both cases, there would be the support of the respective governments, with a financial proposal exceeding 100 million euros plus the necessary infrastructure.

Rio de Janeiro had come forward, but the hypothesis of Brazil seems to have faded. “Although Brazil was proposed as a potential host country, Dalton recognized that the strong European market, the preferences of the teams and the alignment of the sponsors make a move outside of Europe unlikely ,” says Milena Andrade, the entrepreneur-sailor who acted as a “bridge” between the mayor of Rio de Janeiro and the Kiwi leaders.

In these words, we can also read a response - always in the conditional - to the dreams of Auckland, which has started the race to bring the defense of the Cup back to New Zealand. There would be, in fact, a good understanding between the mayor of the sailing city, Wayne Brown, and the government of Wellington, but a concrete offer is needed and the country is still suffering from the post-Covid economic crisis.