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NZ Government Commits $100m To America's Cup

The New Zealand government has put up $NZ100 million towards the hosting of the America's Cup in its budget.

NZ Government Commits $100m To America's Cup

The New Zealand government has put up $NZ100 million towards the hosting of the America's Cup in its budget.

New Zealand's government has put $NZ100 million towards hosting the America's Cup.

The funding was revealed as a note in the government's budget on Thursday.


"This funding will support Emirates Team New Zealand and Auckland Council to deliver a successful 36th America's Cup in Auckland," the entry reads.

Team New Zealand is due to host the sailing competition as defending champions in 2021.

After a protracted series of talks between the syndicate, Auckland Council and the government, it was agreed Auckland would host the defence, with a price of more than $NZ200 million put on the required infrastructure.

While the council has said it will only stump up about half that, it was not immediately clear what the government funding will cover.

Comment has been requested from Team NZ.


AAP




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