America’s Cup: details of the Dunphy deal emerge

America’s Cup: details of the Dunphy deal emerge
Investment in 2021 America's Cup infrastructure would be repaid in 2024, say Auckland bid backers. (Image: Getty)
Pattrick Smellie
Auckland-based oil company founder Mark Dunphy is promising to put $20 million of his own money into a New Zealand defence of The America’s Cup but is relying on the government upping its contribution beyond the $31m cash already offered.Detail of the Dunphy offer comes from a copy of a Sept 14 letter from Dunphy to Aaron Young, the commodore of the Royal NZ Yacht Squadron, which officially holds the cup, and the chairman of Team NZ Ltd, former Toyota NZ CEO Bob Field.In the letter, circulating widely among potential backers of the Dunphy...

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