NZ Government approves Team New Zealand bridging funding of NZ$5 million

Posted on 21 October 2013 by Valencia Sailing

[Source: Emirates Team New Zealand] Emirates Team New Zealand today welcomed an interim Government investment of NZ$5 million towards the team’s challenge for the 35th America’s Cup.

Economic Development Minister Steven Joyce said the bridging funding would enable the team to retain designers, sailors, support crew and administration for the next challenge.

Managing director Grant Dalton said the team was working on the challenge almost from the last race day in San Francisco. “The extent of the enthusiastic reception when we arrived back in New Zealand was both unexpected and encouraging and an incentive to challenge again.

“We have been talking informally to existing and potential sponsors. We will begin to develop a business plan and sponsorship proposals so that we can start calling on them from next month.”

Dalton, who is travelling offshore, said the team, and sponsors, looked forward to the announcement of the rules for the 35th America’s Cup early in the New Year.

“Decisions by Oracle on venue, dates and class of yacht are fundamental to the way ahead.”

Emirates Team New Zealand sailing their AC72 prior to the start of the 2013 Louis Vuitton Cup. San Francisco, 29 May 2013. Photo copyright Chris Cameron / Emirates Team New Zealand

1 Comments For This Post

  1. Says:

    Good News , Good Luck , Gonna be tough , harder than last time !


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