The big money behind the America’s Cup

The modern agenda surrounding the America’s Cup rarely has much to do with a boat race, but rather how this boat race can be used to serve a larger purpose. Here’s why governments take the gamble:

Two hundred thousand people have poured into Auckland’s waterfront to watch the 36th America’s Cup since racing started in December but it won’t be enough to bring the economic boost of up to $1 billion that was projected before COVID-19 hit.

More than $250 million in public funds from Auckland Council and the government has been spent on infrastructure and the event itself, drawing criticism that taxpayers and ratepayers should not have to support a rich man’s sport…

For the rest of the story from Scuttlebutt Sailing News CLICK HERE!

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