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Kiwi Home Defence Slams Team NZ “Collapse” Claims As Ludicrous

Press Release – Kiwi Home Defence

Grant Dalton’s claims that Team New Zealand will collapse within six months if the America’s Cup Defence is held in Auckland are ludicrous, says Kiwi Home Defence spokesperson Mark Dunphy.

“The claim the team will collapse and go into liquidation within six months if they are required to defend the cup here is just outrageous” he said.

“Team New Zealand successfully defended the Cup in Auckland just eight months ago in the middle of a pandemic. To suggest they couldn’t do it again in 2024 is quite ridiculous and simply illustrates Grant Dalton will say or do anything to avoid holding the defence here.”

Mr Dunphy is responding to reports in the New Zealand Herald today that Grant Dalton has been calling Royal New Zealand Yacht Squadron members who support a motion to hold the Cup in Auckland and threatening them the team will collapse within six months and go into liquidation if the motion succeeds.

“Mr Dalton really is being quite disingenuous. He continues to claim there is not enough money to run a well-funded defence in Auckland. He says they need $200 million. That $200 million is clearly here if the defence is held here.”

“Kiwi Home Defence’s $40 million, the Government’s $31 million and Team NZ’s own $80 million in sponsorship comes to $151 million. Dalton says there is a $50 million dollar shortfall beyond that, but why doesn’t he include the income from the event? That’s at least $50 million”

“Events sponsorship, entry fees, rentals and TV revenues – as distinct from team sponsorship, will come to well in excess of $50 million, as it did last time. That means if we all work together, and with the generous support of the New Zealand Government the Auckland City Council and Panuku, we will have more than $200 million to host the event here in early 2024.

“The event income goes up by $4 million every time a new challenger enters the race. This week we had two new entrants. There is at least one other rumoured to be waiting in the wings.

“It is time for Grant Dalton to come clean on the income side of running the America’s Cup, and it’s time for him to explain why he is so obsessed about taking the Cup offshore. Why is Saudi or Irish money better than Kiwi money?

“A thrilling America’s Cup in Auckland in 2024 with all the challenger teams lining up to take on Team New Zealand will be a wonderful event, and an excellent way to celebrate New Zealand opening up to the world again after the pandemic. It’s an insult to have the Cup shipped off overseas after all the effort and money that Kiwis have put in to bring it here in the first place.”

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