Tuesday, 22 October 2013

America's Cup news, New Zealand government steps in with five million dollars of interim funding to allow Emirates Team New Zealand to maintain key staff

From the following article submitted to Sail-World by Richard Gladwell:

http://www.sail-world.com/Australia/Americas-Cup:-NZ-Govt-backs-Team-NZ-with-limited-funding/115929

The NZ Government has announced that it will provide Emirates Team New Zealand with $5million of interim funding to allow the team to retain key members ahead of the 35th America's Cup.

The funding comes before the team has made a decision whether or not to Challenge for the trophy it failed to win by an 8-9 margin last month in San Francisco.

The amount provided is half that provided in 2010 - but that was covered by an agreement signed between the Team and the previous Labour government.

read more here


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