Team New Zealand's key corporate backer have confirmed they are keen to renew their sponsorship of the syndicate once the full details of the next America's Cup are known.
The team's boss Grant Dalton has said previously all their existing stable of sponsors have indicated they are keen to continue their association with the Kiwi syndicate, with other as yet unknown brands also expressing strong interest in coming on board. But Dalton is unable to finalise any deals until the host venues for both the Cup match and qualifying series are known.
These details aren't expected to be revealed by America's Cup authorities until February next year, leaving Team New Zealand with a funding shortfall until then.
To help keep them afloat until then, Team NZ have requested further investment from the government, prompting a major backlash from the public.
In response Steven Joyce, the minister of economic development, has told Team NZ the private sector needs to step up.
Emirates, Team NZ's naming rights sponsor for the past 10 years, yesterday reiterated their support for the cash-strapped syndicate:
"We remain a strong believer in Emirates Team New Zealand, having been their title sponsor for over 10 years now. We are working closely with them with the objective of renewing our sponsorship as soon as the team is in a position to finalise arrangements regarding the next campaign," said Boutros Boutros, Emirates' divisional senior vice president, corporate communications, marketing and brand.