The escalating costs of the America’s Cup may have exceeded what New Zealand is willing to pay, leaving the Team New Zealand at a cross roads. Does the defender do what they can as a home team or shop the hosting rights abroad. Only twice before had the hosting rights been shopped, first occurring out of need when the Swiss won in 2003, and with no site within their borders meeting the Deed of Gift terms, selected Valencia, Spain. The second time was out of greed when the USA moved their second defense in 2017 from San Francisco to Bermuda.
While historically underfunded, the Kiwi team has prevailed with less, but even they may now be unable to fund a suitable effort. Having previously announced that the venue would be revealed by September and the Protocol for the 37th edition to be published by November, the clock is ticking. Has the cost of the America’s Cup exceeded what the most tenured team can afford? Here are some updates: