Team NZ appears set to receive funding from the Government again - according to unconfirmed sources. The news comes as reports point to Auckland as the venue for the next America's Cup qualifying series.
Economic Development Minister Steven Joyce has refused to confirm the funding, but said if New Zealand was confirmed as a venue for the qualifiers "that would make us much more interested in sponsoring the team".
The Government put $36 million toward the last bid for the Cup in 2013 and Team NZ has said it had asked for a similar amount for this challenge.
The Government gave $5 million to keep Team NZ ticking after its defeat to Oracle in 2013 but has refused to commit to further funding. Ministers felt there was less economic benefit in the sponsorship with the 2017 finals in Bermuda.
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