Money will talk in any decisions

The government minister in charge of striking a deal with Team New Zealand to keep the America’s Cup here is warning a lack of money may mean it disappears off shore.

It comes as Auckland’s mayor Phil Goff issues a plea to the team to stay put, given the massive support from the city’s ratepayers in recent years.

The Government has until June to negotiate a deal with the Royal New Zealand Yacht Squadron and Team New Zealand to keep the next challenger series here.

Minister Responsible for the America’s Cup Stuart Nash told Newstalk ZB the Government would “love to be back for more” but economic factors could determine the final outcome.

“I would like to see this held in New Zealand next time but, again, we’ve got three months to sit down and negotiate that and see what it looks like,” said Nash.

“It would be disappointing to see it head off shore but the economic reality may mean in this Covid time that the Government hasn’t got the money to stump up and hold it.”

“That’s my call to Team New Zealand. We’ve got in behind you, we’ve backed you, we’ve given you the support, we’ve provided you with the infrastructure, please reciprocate,” said Goff.

“The Government has said they’ll come to the party again, they’ll provide money to keep the team going, they’ll provide money for hosting the event, we’ve got the infrastructure here, we’re ready to welcome them back. I hope that’s the decision they make,” said Goff.

The Government and Auckland Council injected $249.5 million into the latest campaign, with the Government contributing $136.5m for construction, the event fee and commercial and base-related costs.

The council alone spent $113m to host the event, with $71.7m going into building team bases and the upgrade and expansion of superyacht berthages and a $34m share of the commercial and baserelated costs.

The council also brought forward $100m of planned infrastructure projects at the waterfront.