Tātaki Auckland Unlimited (TAU) has this morning expressed its disappointment following confirmation from Emirates Team New Zealand that Auckland will not proceed with a bid to host the next America’s Cup 38 in 2027.
TAU Chief Executive, Nick Hill said the America’s Cup was a fantastic sporting event that provides significant benefits to the host city and country, “So it is with great disappointment that Tātaki Auckland Unlimited (TAU) confirms that Auckland is unable to proceed with a bid to host the next America’s Cup 38 in 2027.”
Mr Hill said Auckland’s bid was contingent on a three-way funding partnership between Auckland Council, central government and the private sector.
“MBIE has informed TAU that the government is unable provide the funds required and on that basis the bid cannot proceed,” he said.
He said the situation illustrates the need for a long-term sustainable funding model in New Zealand to support major events.
“Major events generate significant economic, cultural and social benefits for the country, including increased tourism, job creation and international profile.”
“The TAU team has worked incredibly hard to try and make this opportunity work for Auckland; we already have the infrastructure and major events expertise in place and really wanted to be able to host our sailors on home waters.”
He said TAU, on behalf of Auckland Council, reiterated the region’s support for Emirates Team New Zealand and any future America’s Cup events.
In a separate statement this morning, Team New Zealand said that since winning the 37th America’s Cup in October last year “The Royal New Zealand Yacht Squadron and Emirates Team New Zealand have been intent on exploring the possibility of hosting the 38th America’s Cup in Auckland with the understanding it would take a combination of private backing, Local Government as well as Central Government support to make it happen, but not at the expense of funding other priorities in the tough economic climate.
“In this time, the team have had comfort in the level of private support and have been working with Tātaki Auckland Unlimited who have been proactively spearheading the bid. So, it is with both disappointment and understanding to hear MBIE and Central Government have decided not to back the 38th America’s Cup in Auckland in 2027.
“While the significant economic benefits of hosting the America’s Cup and other major events are well proven, such as €1.034b ($1.9b NZD) of economic benefits in Barcelona in 2024, we understand there are other priorities for the New Zealand Government right now.”
