Team NZ chair says chances next America's Cup held in NZ currently '50 per cent'

Source: 1News

Team New Zealand may have only just locked away the Auld Mug with their emphatic win over Luna Rossa but already attention has turned to the next America's Cup for some and whether or not it'll be staged here.

ETNZ Board of Directors chairman Sir Stephen Tindall spoke to 1 NEWS this afternoon after the Kiwi syndicate wrapped up the contest yesterday, saying work has already begun on the 37th edition of the event.

"There's no day off, we're thinking about the next one," Sir Stephen told 1 NEWS.

"There's a lot of work to do to fund the next one so I'm thinking about that already."

Sir Stephen did get a chance to stop for a second and enjoy the moment though.

"I felt very emotional about it yesterday, even more so than [winning in] Bermuda because it was here amongst all of our fans," he said.

"I came in on the boat with the guys and you could just see it in their faces how pumped they were, they just soaked it all up.

"After all the effort they put in, they deserved to be recognised that way."

While celebrations were ongoing, discussions also intensified over whether or not the 37th America's Cup will also be held in New Zealand with suggestions Team NZ could take their next defence abroard.

It comes after news emerged last month of a document created by Team NZ that aimed to entice potential host cities around the world to bid for the next regatta. In the document, potential bidders were told they’d be required to pay a hosting fee, cover operating costs and deliver required infrastructure.

Despite the proposal, Sir Stephen told 1 NEWS he personally hopes the regatta stays here.

"I hope it gets to be here, that's my number one thought at the moment," he said.

"We'll do everything we possibly can to have it here but these are trying times - will the sponsors we've had in the past still be available, et cetera."

When asked by 1 NEWS how certain he was New Zealand would host the 37th America's Cup, Sir Stephen gave a blunt figure.

"Fifty per cent at the minute... but how could you know? It's all dependent on the money."

He added there are other pressing factors he needed to worry about too besides the host city.

"The number one thing is we have to keep this team together," he said.

"As a director, one of my main responsibilites is for us to stay solvent so that means if we have to do things that we would prefer not to do, then maybe that has to happen."

The Government announced soon after yesterday's triumph they were committed to supporting Team NZ for another defence with Cabinet already agreeing in principle to invest $5 million early on.

That investment came with "a number of conditions" though, the minister responsible for the America's Cup support Stuart Nash said, including an "expectation the Cup will be defended in New Zealand".

Sir Stephen said there would be pros and cons that Team NZ have to weigh up when it comes to accepting investment from the Government.

"In some ways, it's better for us not to have any Government money. It's better for us to do it ourselves and that's my hope."

It could be weeks before any official information about the 37th America's Cup surfaces as discussions happen behind closed doors but Sir Stephen said that's all part of the regatta.

"We've just got to take a big, deep breathe and work through it."