A sole America's Cup event in Auckland "wouldn't work these days", according to Sir Russell Coutts.
The chief executive of the America's Cup Event Authority told The Times a one-off event under the event's original format would be difficult commercially for both teams and sponsors.
"It is hard to promote just a one-off event. The Louis Vuitton America's Cup World Series created a tremendous amount of value for all of the stakeholders, teams, sponsors, venues and media partners."
Emirates Team New Zealand are looking like the team most likely to snatch victory from Oracle Team USA, following their win against Japan and France in the Louis Vuitton America's Cup Qualifiers.
The Times noted there is worry that if New Zealand wins, the work that has been done to build the America's Cup to what it is will be wasted.
Traditionally, the America's Cup winner dictates the rules and location for the next renewal.
The Kiwis are the only team out of six who haven't signed a framework agreement for the future, which states the next competition would be an America's Cup World Series (ACWS), where races would take place around the globe in 2019.
Coutts admitted he didn't know what New Zealand's plans were, but said from day one they'd been invited to be part of the process.
"I've got to think that whoever wins they would want to put on the best event they could," The Times reported.
"It is all very good to say we'll tell everyone what's going on after we see who wins. That is what has been done in the past."
The World Champion yachtsman, who defended the 2000 Cup in Auckland with Team New Zealand, said it was a better solution to pre-agree "these things prior to someone winning, because you get a more balanced view from all competitors".
"It's not just the teams that have to plan, you need key media partnerships in place for broadcast, you need your key sponsorships in place. You need the venues, you need to set that schedule way in advance. Whoever wins would benefit more from an existing path."
Coutts said an event couldn't work without good teams, broadcasters and sponsors, and the new framework moved that forward.
"If you talk to Louis Vuitton or BMW or some of the others that are involved, they all want to continue. They like the product, they all want to know what the future plans are."
- The Times