Grant Dalton, head of the Kiwi America's Cup challengers Emirates Team New Zealand, confirmed he offered what might have been a lifeline to Britain's GBR Challenge late last year.

The approach was made to Charles Dunstone, head of Carphone Warehouse, rather than GBR's founder and patron Peter Harrison, who funded the British team with £20 million for their 2003 campaign.

Dalton was pitching for Dunstone's support while offering some mutual collaboration which could have prevented GBR from missing the next cup series in Valencia in 2007.