Yachting: Team NZ set to confirm America's Cup challenge

Grant Dalton. Photo / Doug Sherring

Team New Zealand are today expected to confirm they are fully committed to participating in the 34th America's Cup.

The Kiwi syndicate last month confirmed they had paid the initial US$25,000 ($31,400) entry fee to register the team in the America's Cup.

But Team New Zealand boss Grant Dalton has held off making any firm commitment over their participation until he was confident he could secure the money needed to mount a credible campaign.

"I don't think it is appropriate at this time to totally confirm we are there yet, I think I've still got a bit more work to do on that," Dalton said last month.

"I've always said we'll only do this thing if we can be absolutely at the top of our game."

Dalton was also deeply aware that announcing their campaign, a large component of which is expected to be funded by the Government, would have been a bad look in the wake of the Christchurch quake.

Along with the backing of sponsors Emirates, Omega and Toyota, it is expected the Government will be contributing a significant amount to help Team New Zealand in their quest for the Auld Mug.

The 34th America's Cup will be raced in wing-sailed catamarans off San Francisco in 2013. A total of 13 teams have now entered, including three of undisclosed identity.