Gareth Morgan's offer to stump up $5 million to save New Zealand Football if the Government contributes another $10 million has been met with a lukewarm response by Sports Minister Murray McCully.
Asked whether the Government intended to pursue the offer, Mr McCully said: "I greatly appreciate the generosity that Dr Morgan has shown to sport. NZ Football is going through a process of transition at this stage. Dr Morgan's comments remind us of the high level of ambition that New Zealand should have to succeed in international sport."
Dr Morgan's offer was also dependent on NZ Football sacking its current board.
NZ Football did not respond to the Herald's calls.
Dr Morgan, who part-owns A-League club Wellington Phoenix, slammed the NZF board during a radio interview, saying it was accountable for the national team's terrible display in the World Cup qualifiers against Mexico. He described the build-up to that home and away series as "chaos".