'We are not holding out an open chequebook'

Cabinet will discuss support for Team NZ today. Photo / Ricardo Pin

There will likely be something to say about government support for Team New Zealand after a Cabinet discussion today, Prime Minister Bill English says.

"We are in boots-and-all in the sense that this is a big event, it will be great for New Zealand and government has a role in supporting major events. But we are not holding out an open chequebook for Team New Zealand to get whatever they want," English told Mike Hosking on Newstalk ZB.

"There will probably be more to say today. Cabinet will have the first serious discussion. Discussions have begun between the council, government and the team. There is quite a long way to go here."

Read more about how Auckland could host the Cup by clicking here.

One of the biggest challenges will be finding a place to hold the event, given the previous site in Auckland was now being built on, English said.

There will be two aspects to government support. The Government had a process for supporting major events, but the second and less clear cut aspect was support for Team NZ.

"That will be a pretty hard-edged discussion. They have succeeded this time without significant government support. It will be a bit different having it in New Zealand, but we are open to the discussion."

Last week former prime minister Helen Clark said there was "no question" the Government would have to be involved in funding and organising the America's Cup, "a huge thing for New Zealand".

Clark was criticised by National in 2007 when the then-Labour Government agreed to put $38 million into Team New Zealand's campaign. Although National went ahead with the funding, it only put in $5 million for the most recent campaign.