Gareth Morgan's offer to stump up $5 million to save New Zealand Football if the Government contributes another $10 million has been met with a lukewarm response by Sports Minister Murray McCully.
Asked whether the Government intended to pursue the offer, Mr McCully said: "I greatly appreciate the generosity that Dr Morgan has shown to sport. NZ Football is going through a process of transition at this stage. Dr Morgan's comments remind us of the high level of ambition that New Zealand should have to succeed in international sport."
Dr Morgan's offer was also dependent on NZ Football sacking its current board.
NZ Football did not respond to the Herald's calls.
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Dr Morgan, who part-owns A-League club Wellington Phoenix, slammed the NZF board during a radio interview, saying it was accountable for the national team's terrible display in the World Cup qualifiers against Mexico. He described the build-up to that home and away series as "chaos".
"There have been some shocking organisational lapses off the field," Dr Morgan said. "Quite frankly the competence level in the organisation of the sport is abysmal."
Dr Morgan wants New Zealand to change its style to "tap and go possession-based football". That would only be achieved if all teams from ASB Premiership level through to the All Whites began playing the same way.
"New Zealand does not know how to play football properly - that is pretty evident, I would have thought."
He said High Performance Sport NZ's funding system was flawed as it gave priority for funding for sports that were already successful instead of providing funding to help make sports become successful. Investment in football was important because of the sport's global importance and the potential positive spin-offs for the country.
"It's the biggest participation sport in the country, it's the biggest sport in the world. It has huge ramifications for us as a country if we can learn how to play it. We need a change."