Team New Zealand is "being wooed by backers in the Middle East prepared to offer" up to $80M to take the America's Cup regatta away from New Zealand, according to the NEW ZEALAND HERALD. The cup defenders "want a multi-million dollar hosting fee from the Government to stage the event in Auckland." Team New Zealand execs are "looking at a raft of other possible destinations," including Sochi, Russia and Abu Dhabi. It is understood the syndicate "could receive up to" $80M from a potential hosting deal in Abu Dhabi. NZ Minister for Economic Development David Parker confirmed the demand for a hosting fee, admitting that Auckland was "not in the bag" -- and he said that he was "aware of interest from other potential hosts." Although Parker would not "be drawn on the exact amount," he confirmed Team NZ would be asking for a "significant" fee on top of its infrastructure expenses, and that this would "effectively be funded by taxpayers." The hosting fee has been standard in the America's Cup since '07 when Alinghi took the Cup to Valencia, Spain. In a statement, Team NZ said, "Emirates Team New Zealand are not actively scouting other locations but there has been overseas interest that have presented themselves but we reconfirm our desire to host the Americas Cup in New Zealand and we are making good progress with both council and government." Auckland Mayor Phil Goff "ruled out any chance of the Auckland Council stumping up for a hosting fee." He said that Auckland "would already fork out hundreds of millions of dollars for aspects of the event that will benefit the city." Goff: "That's a pretty fair contribution to make. It's not a case of just being tight. It's that I just don't have the money to spend and the fundamental responsibility I have as mayor of Auckland is not to spend money I don't have" (NZ HERALD, 11/26).
