Team New Zealand fails in bid to host 2027 America's Cup / Photo: LLUIS GENE - AFP
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NYSE - LSE
Team New Zealand fails in bid to host 2027 America's Cup
Trophy holders Team New Zealand have failed in a bid to host the 2027 America's Cup, saying Tuesday they could not secure government backing for the prestigious yachting regatta.
Team New Zealand vanquished INEOS Britannia at Barcelona in October last year to win the America's Cup -- one of the oldest competitions in international sport.
They are due to defend it in 2027 and had initially planned to host the regatta in Auckland.
Team New Zealand said the bid had fallen through after government support failed to materialise.
"While the significant economic benefits of hosting the America's Cup and other major events are well proven... we understand there are other priorities for the New Zealand government right now," said a statement.
A number of European cities are reportedly vying to secure the 2027 hosting rights for yachting's showpiece event.
Team New Zealand have held the America's Cup since 2017.
A.Ruiz--AT