They failed to win the Cup losing
to Swiss holder Alinghi. But Team New Zealand's
future now looks assured.
Sports Minister, Trevor Mallard, said the kiwi Government
is already committing an extra NZ$10m (about €7m)
and several more million in the coming months so
the team can stay together.
He said the $34m the Government originally invested
in the team was well worth the publicity for New
Zealand and its industries.
The $10m the Government was advancing was necessary
to secure key people from the team.
"Clearly the team won't be able to outbid on everybody
but the team had to have certainty of funding in
order to go forward at all." Mr Mallard said the
heads of "Big Teams" had large chequebooks
open: "Their companies could well have a bigger
turnover than our country does...we've got to be
Team New Zealand boss Grant Dalton said it was a
great gesture and he would be back at the helm of
"I have put my name forward and said I will run
another challenge," he said. "Trevor [Mallard] support
has been sensational and without them we would have
Dalton said he was gutted after this Thuerday's
"We are incredibly disappointed," It feels like
our heart has been dug out with a spoon and I don't
think that will change in the short term. But Alinghi
were better. That's all that matters."
It was the closest and most exciting finish to the
regatta in its 150 year history. That was little
consolation to Dalton.
"It don't think the margin today really matters,"
he said. "They still won it."
However, he paid tribute to his entire team of 120
who now pack up and relocate back to Auckland.
"The guys have done an amazing job," he said. "It's
been a long four years. Of course I'm enormously
"We didn't come here to just take part. We came
here to win it", he concluded. "We haven't
done that, so we're just going to have to re-group
and have a look at what the future holds".
"We've been focussed on the now. We'll need a bit
of time to look at what happens next."