No money for Team NZ

The Herald reports:

The future of Team New Zealand is looking grim after the announcement today that there will be no America's Cup pre-regatta for Auckland. …

“I think we're at the end of the road really,” the Prime said.

“Of course will continue to have discussions with , but the 's position has been pretty clear.

“With the event being held 100 percent in Bermuda, that becomes a really challenging issue to go beyond the $5 million we've already put in.”

I'm glad there will be no further taxpayer money. I Team NZ get enough private sponsors to continue, but I don't think there was a case for more Government funding.

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