KEY POINTS:
The Prime Minister has given a strong hint that Team New Zealand could get public funding for a future America's Cup contest.
Helen Clark said yesterday she was "well satisfied" with the returns on the Government's $34 million contribution to support the challenge in Valencia.
"The constant branding promotion of New Zealand over many weeks of high-profile sailing, the opportunities New Zealand companies have had to leverage off it at the base in Valencia ... I'm very well satisfied with the investment." Asked if it augured well for future funding, she noted: "You might say that. I couldn't possibly comment."
Sport Minister Trevor Mallard, who is at the regatta in Spain, said no funding decision had been made. But he indicated a decision had to follow swiftly after the end of the current campaign to stop other syndicates poaching Emirates Team NZ sailors.
"There is a verbal commitment to make a decision quickly because the sailors will need to know. Russell Coutts is probably going to Oracle, and there will be a lot of money floating around. He will have a very big cheque book to go after our sailors."
National Party leader John Key also said it was value for money, but if National was in Government it would have to consider whether to do so again.
He said the current funding for Team NZ amounted to almost half of the $89 million the Government spent on all other sports combined. "That gives a sense of perspective as to how much we put into just that one sport for the America's Cup, and in every campaign the expense goes up, so we would have to reflect on whether to fund another campaign."
Team New Zealand will have to win the next three races against Alinghi to win the cup. Racing resumes early tomorrow (NZT) after yesterday's lay day.
