"In my drafts, which I've kept since October 2015, which I wrote on a flight back to England - I keep it as sort of a motivation, is a draft of a press release to shut the team.
"We had a directors meeting that afternoon, we decided we had to shut. I worked through that night and came up with some money by daybreak, and here we are."
Dalton would not disclose who helped Team NZ - the most enduring syndicate in America's Cup history - stay alive.
"It was a combination of people that helped. It was offshore money, and it kept us going."
Team NZ board member Tina Symmans told the Herald in one three-week period in October 2015, the board were meeting an average of twice a day as they fought to fend off closure.
Sir Stephen Tindall, the team's chairman, said he was never willing to accept Team NZ would dissolve.
"I think it is fair to say, right up until today, Grant is a pessimist," said Sir Stephen.
"He painted a picture to us back then that we were finished, but I didn't accept it. We were very close to it, very close."
"It took a huge amount of effort to dig our way out of it, but as Kiwis we are never down and out."
Having had their "backs against the wall" for the entire Cup cycle made today's victory an emotional one for Dalton, who endured a bitter public backlash early on in the campaign after making a plea for more government funds.
"I certainly hugged a few more guys than I normally do, and a few of them had a tear in their eye."
"Credit to Matteo de Nora - he was the first guy I saw. He's just been amazing, as have Stephen Tindall and the rest of the directors. They've just been amazing."
"There were some pretty tough calls we've made when we've been pretty much against the wall in terms of money. It had gone in fact at one stage, and we came back."
