5 Dec 2018

Govt, Auckland Council to pay $250m on America's Cup

From Morning Report, 6:11 am on 5 December 2018

The Government is committing an extra $22.5 million to the America's Cup. But it will only be paid if Auckland Council coughs up another $14.5 million to help pay for higher than expected infrastructure costs for the 2021 event. Auckland Mayor Phil Goff is hopeful councillors will approve the additional funding when they meet Thursday. He told Auckland reporter Matthew Theunissen that some projected costs are higher than expected. It brings the combined funding pot from the Crown and the council to almost $250 million.