Further Cup funding only available if they win

Pleased to see that John Key is saying that it is unlikely that the government will fund Team New Zealand any more unless they win. Labour committed us to $36 million in 2008, I wonder if they would commit again or support the government for more?

Prime Minister John Key says the Government is only likely to fund another New Zealand bid for the America’s Cup if Team New Zealand win the competition.

He said this afternoon that if captain Dean Barker’s crew went on to win in San Francisco, the Government would have to consider what support it would provide.?

Team New Zealand has a three-point lead over Oracle in the first-to-nine finals series.

The Ministry of Business, Innovation and Employment was already looking at what would be required to upgrade the Auckland viaduct if New Zealand hosted the competition again.

Mr Key said: “On the basis that they win the cup, then it’s far more likely that we would be looking to make a contribution to another effort.”

He added: “If they lost it would be much more difficult for us to put money in again.”