Team NZ charged taxpayers $3m for boat design

Wed, 09 Sep 2020

The disputed $3 million design fee Emirates Team New Zealand charged the government-funded America’s Cup Events was the key area of concern in a report commissioned by the Ministry of Business, Innovation and Employment.While the report by forensic accountants Beattie Varley – which was released in summary form on Aug. 26 – found no financial wrongdoing, it uncovered a failure of Team NZ to maintain timely records and rebuked the yachting syndicate’s poor governance and management.MBIE released a redacted version of the...

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