View photosKEY POINTS:
Team New Zealand may not have realised the America's Cup dream but their success in the waters off Valencia has re-energised the quest for the Auld Mug.
The Government has pledged $10 million towards a fresh challenge, Grant Dalton plans to stay on board and sponsors are unlikely
to be in short supply.
"Alinghi had immensely more resources, some of the best sailors out of the New Zealand team of 2000 and it managed to win by one second," Prime Minister Helen Clark said yesterday.
"What that tells you is that David can beat Goliath and David has beaten Goliath on two occasions (in the cup races)."
The dream ended when Swiss syndicate Alinghi won the seventh race by one second yesterday morning to take the best-of-nine series by 5-2.
But the scoreline did not do justice to a nail-bitingly close competition.
Dalton summed up the feelings of a nation when he said: "Right now, it's like your heart has been dug out with a spoon."
But he immediately vowed to be back. "I've put my name forward and said I would run another challenge and we'll take it from there."
The Government's $10 million is designed to help contract vital team members during negotiations about commercial sponsorship.
The Government paid $34 million in funding for the 2007 Cup but originally pledged $5 million.
Helen Clark said she expected the Government to put in a similar amount in total.
Then there are the intangibles. Sports Minister Trevor Mallard said 55 Kiwi companies had hosted almost 600 people from 160 companies at events in Valencia, promoting New Zealand technology, products and services to high-value offshore business contacts and international audiences.
Helen Clark said there had been "months of unprecedented, high profile publicity" which was good for every part of the economy.
"Putting a price on the amount of publicity and the price of being perceived as being right up there with great design, determined people - I think it's immeasurable and I'm satisfied it's been a good taxpayer investment."
She said the $10 million was necessary to secure a team to ensure New Zealand was competitive next time around.
And while she would not be drawn on who should make up that team, she said: "Dean (Barker) sailed his heart out and those are not decisions for me to make.
"If you don't move quickly, you lose the possibility to mount a strong campaign based around your best people."
Major sponsors Emirates, Toyota and Lion Nathan were all happy with the New Zealand effort and the exposure they received but none had yesterday made any firm commitments about doing it again.
Toyota marketing manager Mark Young said the company's sponsorship had gone "fantastically well" and was likely to continue but it was too early to make any guarantees.
Lion Nathan corporate affairs director Liz Read said the company would look closely at supporting the team again.
Meanwhile, Auckland Mayor Dick Hubbard is planning a civic reception for Team New Zealand's yachtsmen to welcome them back from Valencia.
"They won the Louis Vuitton Cup challengers series,"said.
"They've taken on the best in the world.
"We have to regard them as winners and heroes for what they have achieved."
Helen Clark agreed the sailors and the rest of the team were heroes.
"I think to come from where we were in 2003, with a broken-down boat, to being one second behind in the final race is just an extraordinary hauling up by Team New Zealand. Let's hope next time we can push it over the line."
The Cup economy
$85 million: Amount injected into the New Zealand economy by the Team NZ challenge over the 2003-07 period, with a related 540-830 jobs.
$22 million: Amount Team NZ paid in PAYE as of May. That, combined with tax paid by contractors, means the initial $34 million investment had been paid in full.
