Subscribe today - find out more
Why you should consider BusinessDesk
America's Cup

America’s Cup: details of the Dunphy deal emerge

Pattrick Smellie
Mon, 20 Sep 2021

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
Mon, 20 Sep 2021
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Listed Companies market close
NZ shares fall on first day of NZ's omicron outbreak
Ella Somers | Mon, 24 Jan 2022

Eroad led the NZX50 lower after delivering a mixed quarterly sales update. 

Media
Discovery wins Tova bout, ERA orders her to pay damages
Daniel Dunkley | Mon, 24 Jan 2022

The ERA has upheld Discovery's restraint of trade clause in the Tova O' Brien legal battle ensuring that she can't start at Today FM until March.

Markets
NZ shares slow down as traffic light turns red
Ella Somers | Mon, 24 Jan 2022

Aviation and tourism stocks are among those bearing the brunt of Sunday night's red light.

Sponsored
Grape expectation for first major wine auction

Buying wine at auction can be a smart way to build your cellar or discover a world of wine

Sponsored
How to pick the perfect real estate investment now

Now is a good time to get on the property investment ladder - here is how to get there.