America's Cup organisers can breathe easier after Team New Zealand were cleared of any financial wrongdoing following a forensic audit.
Team boss Grant Dalton has long rejected allegations of impropriety and misuse of public money.
Dalton told TVNZ he felt exonerated by the findings.
An investigation commissioned by the Ministry of Business, Innovation and Employment found there was no evidence of fraud committed by Team New Zealand and nor by the regatta's events arm - America's Cup Event Limited.
Auckland mayor Phil Goff speaks to Corin Dann about the ramifications.
In other developments, Team NZ says it will take high court action against the people who brought the allegations against them.
MBIE will now release the final $11 million funding it promised to regatta organisers.
It withheld that money while the audit was conducted.
