America’s Cup

Bludging Team NZ seeking new marks for more bludging

The Colin Craig of sport, Team New Zealand, who have spent millions of dollars of taxpayers money losing, are now seeking other targets for their corporate bludging.

And the cash strapped Auckland Council is one of the marks.

Auckland Council’s major events funding body is interested in working with Team New Zealand to secure hosting rights for the America’s Cup Qualifying regatta ahead of the challenger finals and 35th Cup match in Bermuda.

America’s Cup organisers revealed this week they had received a “serious proposal” from the Kiwi syndicate to host a “major event or events” in the lead-up to the big show in Bermuda in 2017.

Emirates Team New Zealand have been reluctant to discuss the details of that bid, pointing to commercial sensitivities.

Given Team NZ’s continued involvement in the America’s Cup now looks to hinge on securing the hosting rights for the key pre-regatta, their caution around revealing their plans is understandable.

With the Government making it plain they do not see any leveraging opportunities in Bermuda, Team NZ boss Grant Dalton hinted their business case for further taxpayer money will focus on the potential economic benefits from hosting the month-long event in early 2017.

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Damn straight public opinion is cooling

The most successful losing team in the world is still on the bludge but the government is getting cold feet on funding more America’s Cup challenges.

Team New Zealand is the sporting equivalent of Colin Craig, they spend loads of money coming second or worse…the only difference is Colin Craig spends his own money whereas Team NZ likes to spend our money.

It is time for millionaire sailors with multi-million dollar houses to find another trough to sup from.

Public opinion is turning against subsidising Team New Zealand’s America’s Cup campaign and hosting the competition in a billionaires’ tax haven is only likely to make the situation worse, the Government warns.

Prime Minister John Key said the international yachting regatta was increasingly seen by Kiwi taxpayers as “billionaires playing with their toys”.

“Turning up in Bermuda hardly helps in terms of breaking down that image.” ? Read more »

No more tax payers money for rich sports people

Credit: Roger Price

Credit: Roger Price

Guess what? ?After complaining and working as hard to prevent the AmCup being held in Bermuda, now that it has been decided to hold it there, Team New Zealand have suddenly discovered “it will work”.

Team New Zealand believe Bermuda can deliver “an amazing” America’s Cup ? now they have to convince their sponsors and the government as they look to raise the money to contest the 2017 finals.

Bermuda?was …??confirmed as the venue for the finals, to be sailed in June 2017. The British territory beat American stronghold San Diego for the honour.

While there has been much speculation about Bermuda providing a financial challenge for Team New Zealand, especially for government funding, the syndicate’s chief operations officer Kevin Shoebridge suggested they could make it work.

If we ever had an argument about the nebulous financial return on the tax payers’ “investment” to date, it is going to be next to impossible now. ? Bermuda? ? Yes, that’s in the top 10 of countries we visit and do business with, right? ? Read more »

Why the silence? Bludgers don’t want us to know how much bludging they are doing

Team NZ always asking for more

Team NZ always asking for more

The bludgers in Team NZ are being assisted by the government who is playing secrets over precisely how large the bludging is.

This is?completely unacceptable.

If taxpayers are stumping up cash then we are entitled to know just how much extra corporate bludging that Steven Joyce is happy to fund.

The Government will not say how much taxpayer cash Team New Zealand have requested to help bankroll their next tilt at the America’s Cup.

Documents about public funding of the yachting syndicate sought by the Herald through the Official Information Act were either heavily redacted or withheld by officials acting for Economic Development Minister Steven Joyce.

Citing the public’s right to know how its money is spent by public officials, theHerald has lodged an urgent appeal with the Ombudsman.? Read more »

Looks like Team NZ didn’t need to bludge after all

Wonders will never cease, it looks like Team NZ have had a rummage down the back of someones sofa and come up with some loose scratch to fund them through to January without having to pick the taxpayers’ pockets.

Relief for sailing fans, as it’s confirmed Team New Zealand will have the money to survive to the end of the year.

A week ago, syndicate head Grant Dalton claimed the team was running low on cash, and would need government funding to survive past this month.

But director Sir Stephen Tindall has confirmed they will make it to at least January.

“We’ve got enough money to get through to the end of the year, we’re getting more and more comfortable that we are going to be able to get through and we haven’t made any decision on when any announcements would be made.”

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Steven Joyce will to throw more tax dollars at rich kids

You win some, you lose some. ?When it comes to the America’s Cup, we certainly have a proud history of punching above our weight. ?And, various governments of the day have provided funding in the hope that a win would produce exposure and GDP growth for New Zealand as the defence would be sailed in this country.

But with Oracle’s slanted new rules putting that prospect even further beyond our reach, should New Zealand tax payers enter the America’s Cup lottery again?

Steven Joyce thinks so, as long as Team New Zealand can find sponsors to do the same

A decision on whether New Zealand will make another challenge for the historic yachting trophy needs to be made in the next month or so, and by then funding will need to be in place, Mr Joyce said yesterday.

He was “happy to go and talk to my colleagues” about funding, he told TV One’sQ+A?programme, but money would have to come from private sponsors as well.

If Team NZ decide they want to go ahead with a challenge, “then they need to get in touch with all their sponsors, including us [the Government], so not just us, and say, ‘Actually, we need a bit more money before we can find out where the venue finally is’, and then the sponsors, all of them, and not just the taxpayer, have to say, ‘Right, this is what we’re prepared to do’,” Mr Joyce said.

Over the weekend it has been mooted that New Zealand should start its own tradition. ?A much fairer regatta, based on rules that don’t change every time, and don’t automatically favour the defender. ? Read more »

National could learn a thing or two from Oracle

The National party could learn a thing or two from Oracle. Once you win.. make sure you stay won.

The America’s Cup has shaken and stirred the rules for the 2017 regatta.

They’re radical, ambitious and sure to set off debates in yacht club bars from Sydney to San Diego, and San Francisco to Southampton.

Defending champion Oracle Team USA will race against challengers in early elimination rounds. It can build two 62-foot, wing-sailed foiling catamarans – insurance against a catastrophic failure – while challengers will be limited to one, a clause that’s sure to be controversial.

In another twist, either Oracle Team USA or a challenger could start the best-of-13 America’s Cup match with a one-point lead, depending on results from the qualifying rounds. ? Read more »

Tweet of the Day, news is starting to leak of problems at the top in Team NZ

Cactus Kate nails it…there are many, many rumours floating around about issues within Team NZ.

Some have started flowing into the tipline and from very good sources. The Paul Henry Show also looked into the issues with an interview with Dean Barker.

Before the government tips anymore taxpayer cash into Team NZ I seriously think that they need to conduct some proper due diligence and debriefs of key staff and also run their auditors through the books.

I’m not sure the Emirates folks will want what is hiding under the covers either.

There hasn’t yet been a proper debrief of the debacle.

Reports from my sources say that Grant Dalton was flagging and something like 20% weaker than the weakest person in the sailing team putting extra pressure on the other grinders.? Read more »

Holiday or Promotion?

The NZ Herald has a story about what looks and smells like ?junket to San Francisco for ATEED staff:

Auckland ratepayers paid some of the costs for 3 News presenter Hilary Barry to attend the America’s Cup as part of a $220,114 spend-up in San Francisco by the council’s tourism and economic arm.

A total of 11 staff from Auckland Tourism, Events and Economic Development (Ateed) and seven other people were covered by the bill, including Barry, opera singer Pene Pati and several businessmen.

A spokeswoman for MediaWorks, Rachel Lorimer, said as part of Barry’s news coverage of the Cup, the network let her MC an event for Ateed. In lieu of the usual fee, Ateed helped with her travel expenses.

Ms Lorimer said the financial details of the agreement were commercially sensitive but small in comparison to the network’s total cost of covering the Cup.

She said 3 News filmed at the Auckland event where Barry was the MC, interviewing Warehouse founder Sir Stephen Tindall for a story.? Read more »

It isn’t worth worth it

Finally some politicians call the fat Kraut and his supposed gift to Team New Zealand for what he is...a shameless PR stunt to retain residence in New Zealand.

The Government has snubbed internet entrepreneur Kim Dotcom’s offer to help fund Team New Zealand’s next America’s Cup challenge, describing the million-dollar offer as “a PR campaign to stay in New Zealand“.

But Team NZ appears to be taking Dotcom’s offer seriously. It even sought approval from Economic Development Minister Steven Joyce to meet Dotcom after his offers of seven-figure donations and technological backing for another America’s Cup campaign – to take on American software billionaire Larry Ellison and his reigning Oracle team.

Krim DotCon has no ability to “innovate” in Americas Cup…he talks shit. His puppets run a company that is as far from innovation as you can get.? Read more »