Part of the problem is politics. Team New Zealand's biggest 'crime' was not winning the last America's Cup.
The opposition they are facing now stems from that and the $5m needed to keep the syndicate alive when there was no event, no location and no detail to dangle in front of sponsors. It played into the hands of the internet trolls who emerged from their burrows looking for somewhere to aim their spittle. Their mantras were, "why give money to people who own mansions in Herne Bay" and "yachting is an elitist, rich man's sport. Let someone else sponsor them."
Having said that, there seems little doubt patience for the public purse being opened for the America's Cup has shortened. This government is adept at taking the public pulse and there's another election due in 2017, the same year the Cup will be decided in Bermuda. It's obvious the Nats, seeking a fourth term, will not want to give Labour a spar to beat them with.
Recent utterances by John Key, Steven Joyce and the Treasury reveal that cooling. Treasury's objection seemed largely based on the fact New Zealand could still derive the benefit without having to stump up any taxpayer money. Aha! There is a benefit then. We just don't want to pay for it. Beancounters everywhere rejoice. Just as well Team New Zealand have Grant Dalton, a fundraiser extraordinaire.
Public money also inevitably raises the question of what Dalton and Barker and others are paid. It's not good PR, even though most of those complaining about accountability wouldn't want their salaries published either.
What we are really listening to when we hear the word 'accountability' is envy, not some matter of public principle.
Let's also take stock. Team New Zealand have raised millions from overseas sponsors and spend about 70 per cent of their income in New Zealand. Bringing the Cup back to Auckland would bring undeniable benefits to this country - and so would Team New Zealand landing the challenger qualifying series here, although with some set-up costs.
Perhaps the answer is to make this the last time taxpayer money goes to Team New Zealand. They could also add a clause that, should they win the Cup, they repay the $36m in some form other than tax returns. After all, we know the bounty an America's Cup in this country brings.
But this is politics and does not always involve the nation's custodians doing what is best for our nation as opposed to what is best for the custodians - just like the current America's Cup custodians' choice of a tax-break venue makes it harder for non-billionaire-funded syndicates to compete.