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Backing the team for the next America’s Cup

Backing the team for the next America’s Cup

Posted March 17, 2021
Government

Media Release: Rt Hon Jacinda Ardern Prime Minister - Hon Stuart Nash Minister for Economic and Regional Development

Government congratulates Team New Zealand on America’s Cup victory and commits funding to support the team to stay together to build for the next defence.

“Team New Zealand has once again made us all so proud by retaining the America’s Cup as New Zealand’s cup,” Prime Minister Jacinda Ardern said.

“On behalf of all of Aotearoa I congratulate Grant Dalton, Peter Burling and the whole team, those on the water and off it, for their achievements.

“Peter Burling and his crew of skilled sailors showed what they were capable of in all conditions, highlighting the tactical brilliance and sheer hard work of everyone involved.

“Following a hard year, Team New Zealand provided such optimism and excitement. I know with all the international limitations that COVID created this wasn’t the competition they expected, but they’ve made us so proud,” Jacinda Ardern said.

“Innovation, technology, guts and hard work have delivered glory for Emirates Team New Zealand,” Minister responsible for the America’s Cup Stuart Nash said.

“We want to see it all over again in 2023.The Government has already agreed that the successful America’s Cup team will be supported to stay together while it plans its next defence of the Auld Mug.

“Cabinet has agreed to invest in the team from within existing budgets. It would be subject to a number of conditions, including an expectation the Cup will be defended in New Zealand.

“The defence of the Cup offers a global opportunity to promote New Zealand as an innovative and successful nation, with spin-offs in areas like tourism and export deals.

“Although no request for support has yet been made, Team New Zealand has received government assistance following every America’s Cup since 2003. I anticipate a similar request will be made this year.

“$136.5 million was set aside in Budget 2018 for Cup-related infrastructure and activities and not all of that funding has been spent. Cabinet has agreed in principle to use that under-spend, should it be required, to keep the successful team together while it plans and regroups for AC37.

“The final details are still subject to negotiations, however it is likely to be a similar sum to that paid after AC35 in Bermuda in 2017, when $5 million went towards the team to help it prepare for AC36 this year,” Stuart Nash said.

Background:

The Government invested $136.5 million in the 36th America’s Cup (AC36) and downtown infrastructure, of which $40 million was to deliver and manage the event.

Auckland Council did not directly fund AC36 but invested $113 million into infrastructure, which remains in place now racing is over. Auckland Council has also borne substantial extra operating costs for the regatta.

In addition to the infrastructure around the Cup Village, other projects to benefit from the investment include education, sporting, and marine conservation efforts.

Around 150 schools signed up to Kōkōkaha: powered by wind which sees children get a hands-on scientific understanding of what makes the boats fly, to inspire them to develop skills they need for the future. Other programmes will restore, enhance and protect the marine environment.Media Release: