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Cup Finds Itself Homeless?

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  • Cup Finds Itself Homeless?

    NZ Herald
    By: Eduan Roos and Julia Gabel

    No final decision has been made about where the next America's Cup will be held - but it is highly unlikely that it will be in New Zealand.

    Team New Zealand CEO Grant Dalton on Tuesday night told more than 400 members of the Royal New Zealand Yacht Squadron (RNZYS) that it was extremely unlikely that an agreement with the Government to stage the next event on Kiwi waters would be reached, after more than three months of negotiations had failed.

    Dalton was addressing RNZYS members at the club's headquarters on Team NZ's reported plans to take the event offshore.

    The Kiwi syndicate retained the Auld Mug by beating Italian outfit Luna Rossa in the Cup Match in March.
    Since then negotiators appointed by the Crown have been trying to thrash out a deal with Team New Zealand. As first reported by the Herald earlier this month, an offer worth around $100 million from the Government and Auckland Council to keep the Cup in New Zealand was rejected by Team NZ.

    The Herald understands they wanted a package worth more than $200m. The three-month exclusive negotiation period with the Government ends on Thursday.

    "You've heard that the Government and the council is putting in $100 million, $99 million actually is the number," said Dalton.

    "That's a lot of money. But the devils of the detail, terms and conditions don't make it that amount of money so as we sit here today, with two days to go, we don't have a deal.

    "Will we have a deal in two days – a day and a half? Probably not, but that doesn't mean to say it's going [offshore]. There is money in town, we all know that … but it isn't coming that easy, the phone's not ringing off the hook.

    "Everybody just needs to calm down a little bit, because although we finish the negotiation period with the Government and council on Thursday, we don't finish the end of it being in New Zealand and in Auckland.
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