Cronica Global reported the city had secured the Cup with $70m euros from the Catalan government and Barcelona City Council.
Team New Zealand denied the report when contacted by NZME, and are set to announce the official decision on the host on Thursday, alongside the Royal New Zealand Yacht Squadron.
Last year Team New Zealand rejected a $99 million bid from the Government and Auckland Council to host the next America's Cup, meaning the event looked likely to be hosted abroad.
But Auckland Business Chamber chief executive Michael Barnett said confirmation the Cup would be hosted offshore would still be "extremely disappointing" to New Zealanders, particular Auckland businesses struggling to recover from Covid.
Emirates Team New Zealand practice ahead of last year's America's Cup event in Auckland. Photo / Michael Craig
"There are hundreds of millions of dollars pumped into the Auckland economy as a result of that event, and they're being denied that," he said.
"There's a whole range of businesses that would look at that and say they're being denied [having] the opportunity as part of their recovery from Covid."
Every event, whether big or small, would be critical in helping the hospitality and tourism sectors bounce back from the pandemic, he said.
"If you look at hospitality and the accommodation sector, they're going to need every single event they can get, whether it's a concert, whether it's a game of rugby or a major event such as this."
"That's what New Zealand is going to need over the next two to three years, just to recover – not to get ahead, just to recover."
Auckland Business Chamber chief executive Michael Barnett. Photo / Supplied
Heart of the City chief executive Viv Beck said they had also hoped the event could be retained.
"Heart of the City hoped to see the Cup return to Auckland given the benefit it would bring to the city, so it will be very disappointing if it is announced that it will be held off-shore," she said.
Aside from business owners, Barnett said all New Zealanders would be extremely disappointed the event had not been better protected onshore.
"I think all New Zealanders would be extremely disappointed in whatever government agency set up a contract that didn't give us the right to hold it here.
"We've invested huge amounts of taxpayers' money into infrastructure, we've invested huge amounts of money over decades into the event, and we should have protected ourselves better than to put ourselves at the hand of other event managers and other countries.
"Most New Zealanders feel that they have some ownership of this, and they had a right to it not just being put out to market to the highest bidder."
Team NZ CEO Grant Dalton said last year it was unlikely NZ would host the next America's Cup.
Auckland mayor Phil Goff said last June Team New Zealand could be out of their council-owned waterfront base by March 2022, as their agreement to use the events center rent-free would come to an end if the defence was not held in Auckland.
An Auckland Unlimited spokesperson said Emirates Team New Zealand had a lease to occupy the Viaduct Events Centre until the date of completion of the 37th America's Cup.
"However there is a rent review, effective March 1, 2022, and is currently under discussion," they said.
Auckland Mayor Phil Goff has also been approached for comment.
