Grant Dalton’s claims that Team New Zealand will crumble within six months if the America’s Cup Defense is held in Auckland are ludicrous, Kiwi Home Defense spokesman Mark Dunphy said.
âThe claim that the team will collapse and go into liquidation within six months if they are required to defend the cup here is just outrageous,â he said.
âThe New Zealand squad successfully defended the Cup in Auckland just eight months ago amid a pandemic. To suggest they couldn’t do it again in 2024 is pretty ludicrous and just illustrates what Grant Dalton will say or will do anything to avoid holding back the defense here.
Mr Dunphy is responding today to information from the New Zealand Herald that Grant Dalton called on members of the Royal New Zealand Yacht Squadron who support a motion to hold the Cup in Auckland and threatened them that the team will collapse in six months and will go into liquidation if the movement is successful.
âMr. Dalton is really quite a hypocrite. He continues to claim that there is not enough money to organize a well-funded defense in Auckland. He says they need $ 200 million. That $ 200 million is clearly there if the defense takes place here.
âThe $ 40 million from Kiwi Home Defense, the $ 31 million from the government and the $ 80 million in sponsorship from Team NZ is $ 151 million. Dalton says there’s a $ 50 million shortfall beyond that, but why doesn’t he include the event’s revenue? It’s at least $ 50 million.
âEvent sponsorship, registration fees, rentals and TV revenues – unlike team sponsorship, will be well over $ 50 million, like last time around. This means that if we all work together, and with the generous support of the New Zealand government, Auckland City Council and Panuku, we will have over $ 200 million to host the event here in early 2024.
âEvent revenue increases by $ 4 million each time a new challenger enters the race. This week we had two new entrants. There is at least one more rumor waiting behind the scenes.
âIt’s time for Grant Dalton to speak candidly about the income side of the America’s Cup race, and it’s time for him to explain why he’s so obsessed with winning the Cup offshore. Why is Saudi or Irish money better than Kiwi money?
âAn exciting 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 a great way to celebrate New Zealand’s openness to the world after the pandemic. It’s an insult that the Cup is being shipped overseas after all the effort and money the Kiwis put into getting it here in the first place. “
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