New Zealand has confirmed there will be a team in the 35
America’s Cup in 2017 after the team secured the finances to compete.
The Emirates Team New Zealand’s participation in the event had been thrown into doubt after reports surfaced that raising funds had been difficult and that the government was not willing to contribute.
However, the team has now said that sufficient private and sponsorship funding had been secured for them to partake in the next stage, despite the lack of government assistance.
Chief Executive Grant Dalton said in a statement: “The funding support for the team that has coalesced over the past week means we can continue the design and engineering development, and keep racing, until main sponsorship funds begin to flow.”
He also confirmed that designers and engineers were working on the software needed for the next challenge.