After months of negotiations, a deal on the venue for the America's Cup in Auckland has been agreed on. Mayor Phil Goff has welcomed the decision, and says they've worked hard to keep costs down.
The agreed spending cost is $172 million. The government's paying about $40 million toward the running of the event, and Team New Zealand is paying some of the figure.
Mr Goff tells Guyon Espiner he cannot say if Auckland Council's spending on the America's Cup event will be capped.
