Govt To Fund Cup Challenge, Barker Dumped

Dean Barker is being dumped as helmsman by Team New Zealand.

Newstalk ZB's Tony Veitch has revealed the syndicate's plan exclusively on the Larry Williams show this afternoon.

He's learned Peter Burling will take over as the lead skipper.

Tony Veitch has also confirmed there will be Government funding for the next America's Cup challenge.

That regatta will take place in Auckland in early 2017.

America's Cup organisers will formally announce the plan next month.

The taxpayer's already spent $5 million keeping Team New Zealand.

John Key said earlier Team New Zealand will be largely funded by private sponsors, but we're different to bigger countries with wealthy businessman on hand to help.

"The question for a small country is do you give any assistance at all.

"I reckon if we won the last Cup, people would've said that was the best $36 million."

However, America's Cup minister Steven Joyce doubts whether they'll stump up with another $36 million as they did last time.

"We'll just have to finalise that once we know for sure what's actually happening with the regatta," he said.

Andrew Little says he'd have to be satisfied that a sound business case stacked up.

"Yacht races tend to be populated by reasonably well-heeled people but if it can be demonstrated there are benefits to New Zealand that exceed any government contribution, then we should have a look at it," he said.

Labour's Trevor Mallard says he knows something, but is bound by confidentiality.

"I know what is going to happen, and I'm not going to comment," he said

Radio Sport