Dalton calls out tax structure behind rival America's Cup bid

The next America's Cup will save costs by using the same basic boat design (Image: Getty)

Tue, 17 Aug 2021

A rival backer for the next America’s Cup regatta appears to be trying to structure the deal to minimise tax, in part by exploiting the Royal New Zealand Yacht Squadron’s not-for-profit status, says Team New Zealand head Grant Dalton.In an update to Team NZ supporters this morning, Dalton comes out swinging at the proposal from Greymouth Petroleum chairman Mark Dunphy, who last month revealed he was backing an attempt to keep the 37th America’s Cup regatta in NZ.That followed Team NZ rejecting a government offer of cash and in...

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