Team New Zealand has agreement with the Government and Auckland Council on a final plan, developed by Team New Zealand, that will see the 36th America’s Cup be sailed in Auckland in 2021.
Team NZ made the announcement tonight, the deal is pending sign off from Auckland Council's governing body and the final sign off by Finance Minister Grant Robertson.
"This is a huge relief to have reached the agreement with Government and Council over the event venue and host agreement," said CEO Grant Dalton.
"Our determination to have the event in Auckland never wavered despite plenty of challenges right up until the 11th hour.
"It has been a very complex and time-consuming process for everyone so it is pleasing that all parties have seen the collective benefit of the innovative base proposal put forward by Emirates Team New Zealand late last week."
The plan essentially eliminates the need for any extension of the Halsey Wharf, which brings with it a significant cost reduction and situates the team in the Viaduct Events Centre.
One team would then be housed on the extension on Hobson Wharf, while the remainder of the team bases line up along the Wynyard Wharf.
"Excitingly, what we have in the agreements is essentially the start of the event build," said Dalton.
"In saying this, there isn't time to celebrate, the clock has been ticking for the past nine months and there is a huge amount to organise and build in a very tight timeline.
"But it is a line in the sand where everyone collectively can now focus on working together to deliver the best America’s Cup in history and the most successful and inclusive major event New Zealand has ever seen for all New Zealanders."