"I think YNZ thought we were wealthy enough to do it ourselves. We're experienced campaigners but expected them to step up the funding in the final year. We were meeting roadblock after roadblock and it was frustrating. The only reason I'm continuing is because I have a passion to win a medal."
Monk already has an Olympic medal with bronze in the Finn at Barcelona. The 40-year-old Pepper has a ninth in the Star with Carl Williams at Beijing and seventh and 10th in the single-handed Laser at Athens and Atlanta respectively.
Pepper is rushing to get Turner signed on legitimately: "We're hopeful. He's seeing a residency-specialist lawyer who says he ticks the boxes. Jim's done the paperwork so he should get exemption."
Responding by email, YNZ Olympic programmes manager Jez Fanstone says all campaign funding starts with YNZ and the athlete mutually agreeing to a campaign proposal: "[There is] a requirement for certain targets and conditions to be met by the athlete in order to retain continued funding. These agreements remain confidential.
"Funding and campaign decisions are made by a high performance panel and are supported by, and consistent with, the aims and goals of our stakeholders. YNZ does not fully fund campaigns and all athletes are required to make a personal contribution. The funding for these athletes is ultimately derived from the public purse and as such we have a responsibility to ensure this money is used wisely."
The Herald on Sunday understands Monk and Pepper needed to finish fifth or better under those confidential terms at the pre-Olympic regatta to guarantee further funding. They finished sixth, including two top three finishes in the 10 races counting out of 11.
"We made some mistakes, gear broke and we missed a race. Otherwise we could've been in the medals," Pepper says. "Surely, given our record, they could have shown us leniency or maybe a bit of love."
Pepper insists the circumstances have made him more determined: "We have to prove we're in contention for a medal at the [Star] world championships. I don't want to go [to the Olympics] if we're not in that bracket. A top eight - or preferably top five - finish would be mandatory. Hopefully YNZ will change their view. If we're off the pace and we've got no funding, it wouldn't be worth it."