The Royal New Zealand Yacht Squadron and Emirates Team New Zealand have issued a statement noting their disappointment to learn that the Central Government will not support the bid to host the 38th America’s Cup in Auckland in 2027.
Since winning the prestigious event last October, the team has worked closely with Tātaki Auckland Unlimited. They explored the necessary support from the private sector, local government, and central government, the statement says.
"The significant economic benefits of hosting the America’s Cup are well documented," a spokesperson from the team stated. They referred to Barcelona’s €1.034 billion ($1.9 billion NZD) economic boost from the 2024 event as an example.
Despite the potential advantages, the team understands the government's focus on other priorities amid a challenging economic climate.
