America's Cup: Auckland mayor Phil Goff says money not the only factor in bid for America's Cup hosting rights

Auckland mayor Phil Goff has made his pitch for the hosting rights of the 37th America's Cup, and noted that money isn't the only factor at play in the decision.

After Team New Zealand retained the Auld Mug in Auckland earlier this year, they accepted a challenge from the Isle of Wight's Royal Yacht Squadron, making Ineos Team UK the new Challenger of Record.

The teams are looking at several locations to host the next regatta, including Auckland and the UK, while China and Dubai are also rumoured to be planning a bid for the event.

Goff said the city would love to have the regatta return to Auckland,.

"We're not in a bidding war against the middle east or United Kingdom, but we've demonstrated how good a city we are to host that event in," Goff told Newstalk ZB.

"We've got the Cup village set up and ready to go; we've got the courses on the Hauraki Gulf - what a beautiful environment to host it in – and we've got the home town advantage. So, there's a lot of reasons why Team New Zealand need to consider being here.

"Of course, money is a factor, but it's only one of the factors. The support they got from New Zealand and from Auckland to help them along their way, Peter Burling commented on that, I think the team would really love to defend the Cup here and I hope that happens."

Team New Zealand beat Luna Rossa to retain the America's Cup in Auckland. Photo / Michael Craig.

The Government set aside $136.5 million to spend on the 36th America's Cup in the 2018 budget, including a host fee of $40 million, which was given in tranches to organisers America's Cup Event Ltd – a branch of Team New Zealand - as well as more than $20 million on infrastructure on Auckland's waterfront. The Government also gave Team NZ $5m in 2017 soon after it won the Cup in Bermuda, and has already reaffirmed its commitment to the team for the next edition of the Cup – on the condition it is hosted in New Zealand.

There have been suggestions that the next edition could be a Deed of Gift match rather than a full regatta, which would eliminate the challenger series and see Team New Zealand square off against Ineos Team UK in a one-off Cup match.

While neither team has confirmed any details on what they believe the next edition of the Cup will look like, other challengers have come out firmly against the idea of a Deed of Gift match.

Commodore Christopher J Culver of the New York Yacht Club said that would be a step in the wrong direction, while Luna Rossa skipper Max Sirena told Italian newspaper Corriere della Sera the idea was a farce.

"A dual event would be a disaster for the whole America's Cup world," Sirena said.