9 Sep 2013

Govt looks to possibility of helping pay for next Cup

9:39 pm on 9 September 2013

The Government has sought advice on how much money it might put toward hosting and defending the America's Cup if New Zealand is victorious in the final round of racing in San Francisco Bay.

Team New Zealand has won three races so far and needs to win nine.

Prime Minister John Key has previously distanced National from the decision to put $36 million towards the effort - pinning it on the previous Labour government. - but on Monday he said a victory would be a tremendous boost for the country.

Mr Key says officials are considering what contribution the Government might have to put toward defending the cup should it return here.

"Something like the Americas Cup - putting to one side whatever costs we would have to potentially bear - is highly affordable so I don't perceive there to be any fiscal threat we couldn't potentially manage."

He says if the event is hosted here it's fair to assume the investment would be considerably more than $36 million.