Joyce: no Auckland qualifying series, no America's Cup funding

Government draws a line in the sand.

There is confusion today over the possibility of an America's Cup qualifying series in Auckland. Cup organisers have told organisers there won't be. Team NZ boss Grant Dalton says the possibility is still open.

However, the latest twist has drawn a black-and-white statement from the government.

If there is no qualifying series in Auckland, there will be no Team New Zealand funding from the government, Economic Development Minister Steven Joyce says.

And even if an Auckland series goes ahead, Mr Joyce warns there will be less money in the pot than the San Francisco campaign.

"We are interested in being involved as a sponsor as a much lower basis than last time, and on the basis there is a qualifying series in Auckland," Mr Joyce said. "If that was to change then we could not be involved," he told media.

The government ploughed $36 million into the 2013 America's Cup campaign and provided another $5 million after the 8-9 race loss to US entry Oracle in order to keep key staff.

The next America’s Cup will be raced in Bermuda in June of 2017.

Despite cup races in San Francisco being largely ignored by local media, no US live TV coverage, and brands like Moa not being able to ultimately capitalise on the regatta, an NZTE report found an $87 million positive impact for NZ from the series.

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