Government pledges $5 million to Team NZ

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The New Zealand government has pledged $5million dollars funding for Team NZ.
The money has no strings attached and is supposed to retain key members of the team until a decision whether to mount another challenge is made.
The decision about whether to race in the next America’s Cup will be made around  April or May next year.
At this stage any future funding  would probably be on a similar basis to last time in which the Government put in one third of the total funding raised. That came to $36 million.
Grant Dalton and Dean Barker have both announced that they would be keen to continue within Team New Zealand.
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