“The benefits of hosting this mega-event go well beyond the obvious economic, trade, tourism, employment and social benefits for the region. As we know, the whole country benefits from the opportunities to enhance and grow New Zealand’s reputation in cutting-edge marine innovation and technology, advanced manufacturing and sustainability.
“Technology that has been designed in America’s Cup racing has now been mainstreamed and used to develop hydro-foiling electric ferries, advances in car design, animation and graphics, and in numerous commercial settings; technological advances that extend well beyond expert sailing and boat building.
“On that basis, Tātaki Auckland Unlimited can confirm we are talking with Emirates Team New Zealand.”
In a statement to the Herald, America’s Cup Event and Emirates Team New Zealand chief executive Grant Dalton said Tātaki Auckland Unlimited had been doing a lot of background work and were engaged with the team on a preliminary basis about hosting the regatta.
“However, they are not the only stakeholder required to pull an event of this magnitude together. Obviously this needs central Government backing but we haven’t had any direct contact or indication of interest yet on that level.
“As has previously been said, there is a recognition by the team that a private funding element would also be required to make the economics of the event in Auckland work and discussions are ongoing in that respect.”
That would be a similar structure to that of the successful Barcelona bid, which offered €70 million ($131.5m), with public institutions accounting for €45m ($84.6m) and private entities making up the other €25m ($46.9m).
Team NZ rejected a $99m offer from the New Zealand Government to host the 2024 regatta. Comprised of $30m cash towards the event and the rest of that figure being accounted for by goods in kind, it was not an offer they could both put on a successful event and launch a competitive campaign with.
In a statement to the Herald, Minister for Sport and Recreation Mark Mitchell said the decision of where the next Cup is held was ultimately up to Team NZ.
“The Government remains open to a discussion about the America’s Cup being held in New Zealand.
“Any Government support would be contingent on an assessment of competing priorities in the current economic context, including demonstrating value for money and economic benefits.”
The University of Barcelona study, commissioned by the Barcelona Capital Nautica Foundation, found there were 1.8 million visits across all event sites on and off the water during the 2024 regatta, as well as a fleet of 244 superyachts in attendance. The group of superyachts alone was reported to have contributed a spend of €35m ($65.4m) in the local economy.
But it also revealed the regatta was well-watched around the world. Some 954 million took in the action — topping the global audience of 941 million that made the Auckland regatta the then-most-watched America’s Cup ever — with a reported 37% growth in dedicated audience from the 2021 edition held in Auckland.
That edition returned a loss of $293m to the New Zealand economy. A report into the event said that was due to a number of factors, including the Covid-19 pandemic, which drastically limited the number of international visitors due to border restrictions, and the low number of challenging teams.
Only three teams challenged Team NZ in Auckland. That increased to five in Barcelona, while the Women’s and Youth America’s Cups - which were not held in Auckland - both had 12-strong fleets.
In total, 1,068 people were in Barcelona as team members across the three regattas being contested.
While Barcelona has indicated it does not plan to enter a bid for the next edition of the Cup, other cities with reported interest in hosting have included Valencia (Spain) and Rio de Janeiro (Brazil).
Christopher Reive joined the Herald sports team in 2017, bringing the same versatility to his coverage as he does to his sports viewing habits.
