He had known both Kane Williamson and Trent Boult from young ages and had watched them grow up through the game.
Australia proved themselves to be a world champion team and had the home crowd and home stadium on their side as well, Mr Wadsworth said.
The Black Caps could be proud of their sportsmanship, which differed from how the Australian team handled the win, he said.
Former Black Cap Chris Pringle said the nation and the side both would have loved to win but Australia was just a better team on the day.
"We would've loved to have brought home that trophy and know the feeling of winning a World Cup, but it'll have to be next time, I'm afraid."
The tournament had brought great coverage and promotion to the sport which was great for the kids coming through the sport, he said.
The Black Caps did themselves proud and Mr Pringle thought there would be "real happiness" for Trent Boult based on his performance.
Bay of Plenty Cricket chief executive Paul Reid said the team went out and left everything on the field.
"At the end of the day you have to take your hats off tp them, they made the final.
"I can't say good enough stuff about them. They made the nation proud."
It was not a case of the Black Caps dropping their game, but more about coming up against a very strong side, he said.
"They were playing a very good side who were on form last night."
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