At least five wealthy backers of the challenger teams to the America's Cup are struggling to enter the country in time to watch their yachts race.
Information provided to RNZ shows the owners of the Italian team Luna Rossa, UK team Ineos and American Magic havebeen granted border exemptions but are not yet here.
It's understood they have been unable to access vouchers to stay at managed isolation hotels.
The five owners - three of American Magic, one of Ineos, and one of Luna Rossa - are all now hoping for a government intervention.
Immigration New Zealand says all five were granted visas several months ago.
But they are already missing the start of racing where teams battle for the right to take on champions Team New Zealand for the coveted Auld Mug next March.
America's Cup Minister, Stuart Nash, said his staff are working on it.
"We do understand that owners have invested a significant amount of money here so it's a very fine balancing act about getting this right. Servicing the needs of Kiwis overseas who want to come home, but also ensuring that the men and women who've invested millions of dollars in this can take some part in it."
Anyone entering the country is required to stay in a government-managed isolation or quarantine facility - private yachts are still off the cards.
Challenger of Record Luna Rossa practising on the Hauraki Gulf. Photo / Brett Phibbs
"We've really resisted bespoke quarantine. That's what happened in Melbourne, and if we haven't got control of this and something happens then it will be the government that is blamed."
He did not want to expand on options for getting the owners into the country.
"We're having conversations; I'll just leave it at that. No promise can be made and MIQ is incredibly full at the moment but we're having conversations."
Immigration New Zealand said Hap Fauth, Doug De Vos and Roger Penske were included in American Magic's request for a border exception under the 'other essential worker' category.
This was approved by ministers in June.
Luna Rossa team principal Patrizio Bertelli and Ineos owner Sir Jim Ratcliffe's requests were approved in July and November respectively.
Immigration would not provide any further information for privacy reasons - and the teams would not comment on the movements of their owners.
Others already here will spend Christmas apart from their families due to border restrictions.
Spokesman for Luna Rossa, Francesco Longanesi Cattani, said his teenage daughter can't come to Aotearoa.
"These regulations are there to protect the country from the pandemic and they've proved to be very successful so I think it's a little bit of a sacrifice to spend a Christmas without our families but I think it's the price we have to pay for this quality of life."
Cattani said he is one of many whose family members can't enter the country.
"The situation especially at Christmas is hard for everybody, every challenger, because here we are living in heaven. It's a fantastic quality of life compared to Europe."
Those who made it here are counting themselves lucky.
American Magic boss Terry Hutchinson said they put all their gear on a boat with no guarantees they would get into New Zealand.
"It all worked to a certain degree and having come through the managed isolation, come through to this point you couldn't have come across nicer people to help you through a really difficult time so in that light I think we're all incredibly fortunate."
