The next America’s Cup will be held in Bermuda in 2017.
The decision on the venue was announced yesterday and may put in jeopardy the chance of the government providing funding.
The island of Bermuda is in the north Atlantic and has excellent sailing conditions.
The New Zealand syndicate wants more than $100 million – mostly from commercial sponsors – but also from the Government, which put $36 million into the last campaign.
New Zealand Prime Minister John Key said today that Bermuda might be hard to justify on trade promotion grounds, and believed that two-thirds of people would be against taxpayer funding of the event.