Yay – no further taxpayer funding for America’s Cup this year

The Herald reports:

Team New Zealand has released a statement this afternoon confirming it will challenge for the 35th America’s Cup.

Chairman Keith Turner said the team had secured sufficient private funding and sponsorship to be able to commit to a challenge without having to ask for Government funding.

Excellent, Go Team New Zealand. But I still think the rules are rigged even more than normal, so it will be hard. I’m not convinced the taxpayer should invest next year either, but worth looking at the economic case.