Under the cover of darkness New Zealand 's cup became Spain's cup.
The 2am announcement confirmed what had long been speculated the regatta is headed off shore for 2024.
Team New Zealand boss Grant Dalton is adamant the government funding package of $99 million, including $31 million cash, was not enough to fund a wining defence.
Auckland Mayor Phil Goff says it is a let down and PM Jacinda Ardern says Team NZ was offered enough money to keep it local.
So who is right? Yachting commentator Richard Gladwell talks to Lisa Owen.
