Prime Minister Jacinda Ardern says she is disappointed by the decision by Team New Zealand and the Royal New Zealand Yacht Squadron to take the hosting of the next America's Cup to Barcelona, Spain.
The decision was revealed overnight with the announcement Barcelona will take over the hosting duties from Auckland for the next event in 2024.
Team New Zealand successfully defended the Auld Mug last year with a 7-3 victory over Luna Rossa and then rejected a $99 million bid from the New Zealand Government and Auckland Council to host the next America's Cup, meaning the event looked likely to be hosted abroad.
A four-city shortlist included Barcelona, fellow Spanish city Malaga, Jeddah in Saudi Arabia and Ireland's Cork.
Ardern said New Zealanders have a unique relationship with the event.
"I probably feel the same way as many New Zealanders. I am disappointed around the decision that's been made on where the America's Cup will be held. As a government we certainly stumped up sufficient funding for it to be hosted here. We wanted it to be hosted here. So for it to depart is a disappointment.
"For us we wanted it here because New Zealand treats it as a national event. I don't think any other country in the world treats the America's Cup in the way that we do. We all celebrate it but at the same time, we have to consider all the other costs. We put enough on the table for it to be hosted here but ultimately a different decision was made," Ardern said at the opening of Transmission Gully motorway in Wellington.
Finance Minister Grant Robertson said the government's offer was 'reasonable'.
"From our perspective, it wasn't a bidding war. We put up $136m for the hosting of America's Cup 36 and we had an offer on the table for close to $100m with Auckland Council. We felt that was a reasonable offer. But we weren't going to get ourselves in a bidding war."
Team New Zealand CEO Dalton told the Mike Hosking Breakfast on Newstalk ZB that New Zealand's only chance to win the America's Cup again was by taking it offshore.
"In the end I think we've been true to what we said we'd do. The team must always come first. Of course the event is immensely important, but sustaining a team that has the possibility of winning was always our key objective.
"If you don't have enough money, and that's a fact of the America's Cup, you just crumble and it's been said you'd be better to lose at home than win offshore. I just can't get my head around that. The point is if you lose onshore it will never come home. And here's a chance that we'll be funded well enough to take a realistic chance of defending it so we can bring it home.
"If we thought it was possible to fund and hold the America's Cup in New Zealand, it would have been there. It was obvious very early on it was going to be very very difficult or you would lose. Now there's no guarantee we're going to win over here as well, but we've got a chance. We had no chance at home," Dalton said.
Barcelona has existing world class facilities for racing, team bases, technical infrastructure, superyachts, and areas for the America's Cup event village to host fans, hospitality, and media. It also has an average wind range of 9-15 knots during the September and October race window, making the city completely fit for purpose.
Dalton said Barcelona doesn't have a right of renewal if Team New Zealand successfully defended the Cup again but the Spanish city will have a negotiation period to hold a second time, as Auckland did.
Barcelona's bid saw an unprecedented alliance across public and private entities working together to attract the America's Cup to Barcelona which included the Government of Catalonia, Barcelona City Council, City Hall of Barcelona, Port of Barcelona, Barcelona Global's investment agency and Barcelona & Partners, a non-profit initiative composed of more than 200 of the city's leading institutions aiming to make Barcelona one of the world's best cities for talent and economic activity.
"We had great bids, down to four and it was only really on Sunday that we finally made the decision to go with Barcelona. In the end every city has got its own attributes but here the infrastructure is almost pretty much in place. It's got a very vibrant tourism attraction. It was financially viable for us. And it's Barcelona, I mean, who cannot forget the Olympics in 1992, New Zealand's most successful sailing Olympics ever. And I think that word 'Barcelona' ultimately was the thing that tipped it," Dalton said.
"100 metres literally off the beach we could race down to the bottom mark. Ok maybe not that close because if we get it wrong, we'll end up on the beach. But the beach around Barcelona is world famous. The Emirates Team New Zealand base will be right at the bottom of town.
"So it's a great opportunity. I think for New Zealand. It's a place that Kiwis love and we will welcome as many Kiwis that will come and we will work to make sure there's hotel deals and flight deals and there's a fan zone and a way of getting out on the water. We want to make it as open to and easy to get to as it can be for everybody from home."
'Gutting and disappointing'
National leader Chris Luxon said having the America's Cup in Barcelona was "gutting and disappointing".
He told AM the Government gave a very generous offer of $100 million and didn't think it could do much more than that. Like many many Kiwis he had been a big fan of Team New Zealand and that's why it was a bit disappointing.
"I read last night that it's a bit like trying to explain to the Spanish that they had won the soccer world cup, they had hosting rights and all of a sudden it had been moved to Australia. I think that's how most New Zealanders are feeling this morning about it."
Auckland Mayor Phil Goff said the decision had been signalled for some time.
"While it is not a surprise, I have encountered strong views from many Aucklanders and New Zealanders about the decision by ETNZ not to defend the America's Cup in this country," Goff said.
"This will be the first time that — having won the Cup — New Zealand will not get the benefits of defending it here.
"Team New Zealand received huge support from New Zealanders. This included a significant investment in the infrastructure that Auckland Council put in place and financial support from the government for hosting the event.
"The government and council pulled out all the stops to ensure the infrastructure was delivered to standard and on time. That infrastructure is long-term asset for Aucklanders that is ready to be used for future events."