Govt gives $5 mln to Emirates Team NZ after America's Cup win

Mon, 03 Jul 2017

By Sophie Boot July 3 (BusinessDesk) - The government will give $5 million to Emirates Team New Zealand as it prepares for the next America's Cup, so it can retain key staff. Following the team's victory in the 35th America's Cup campaign in Bermuda last week, the government is keen for the regatta to return to New Zealand for the next round, which financial backer Stephen Tindall has said will be held in Auckland in 2021. "While the location for the 36th America’s Cup has not been decided yet, we do know that hosting a regatta in New...

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