Olympics: Delegates fail to tackle Mallard over America's Cup money

New Zealand Olympic Committee delegates were surprisingly mute yesterday when given a chance to question the Government's possible financial support of an America's Cup challenge.

Minister of Sport Trevor Mallard addressed the NZOC's annual meeting in Wellington.

Speaking to 51 of the country's sporting leaders, he reiterated the Government's controversial stance that it would provide up to $34 million to assist a possible challenge for the 2007 America's Cup.

"If you can come up with a proposal where the Government gets as much or more tax from an event, even if unsuccessful, then come and have a chat," Mallard said.

There was speculation that many sports within the Olympic movement would vent their displeasure and call for increased taxpayer funding for themselves.

However, when given the chance to question the minister, there was no contention.

Most queries related to other issues, such as an $11 million injection towards sport and recreation in secondary schools.

The only person to discuss the America's Cup was New Zealand's representative on the International Olympic Committee, Tay Wilson, and he actually queried whether the Government was putting enough money towards the event.

"Some of the money that was paid for television rights in the United States during the main races of the America's Cup was phenomenal," said Wilson, citing advertising rates in the US.

"It's fair to say what you [the Government] are looking at contributing is very modest and only a tiny percentage of what's on offer.

"New Zealand is but a pin-dot nation on the world, but the name New Zealand has been seen on TV overseas more than ever this year."

Mallard said the New Zealanders involved in any challenge would mostly live at home and the boats would be built here, providing a boost to all forms of tax.

He said the profile the cup would provide the country was enormous, even if the challenge failed.

"And there's a chance ... that we might get $500 million-$800 million if successful, and that would be quite nice, too."

- NZPA