A $100 million government package to support the hosting of the next America's Cup regatta has been rejected - and it seems Team New Zealand will instead sail away with the Auld Mug.
Syndicate boss Grant Dalton won't yet rule out a defence in Auckland - but he says he's now forced to negotiate with overseas bases as the gap between Team New Zealand's financial needs and the joint offer from the government and Auckland City Council is vast.
Corin Dann spoke to Minister Responsible for the America's Cup Stuart Nash.
