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Team NZ deny report three America's Cup challengers withdrawing due to financial issues

Emirates Team New Zealand have quashed a report that three challengers have withdrawn from the 2021 America's Cup, stating that no opponent has pulled out of their campaign.

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Newshub reports three challengers were all set to withdraw and abandon their efforts due to financial issues.

The report states the three late entries - DutchSail, Malta Altus and Stars and Stripes Team USA - were the teams reportedly exiting the regatta, but Team New Zealand responded to the rumours last night, stating all six teams remain poised to compete.

"Due to today’s speculation the defender Emirates Team New Zealand can confirm no challenger has withdrawn from the 36th America’s Cup," the team said in a statement.

"The payment dates for entry fees are not time critical. The arbitration panel ruled that they are ineligible to race if entry fees remain unpaid but their validity as a challenger in the meantime is not affected.

"Emirates Team New Zealand has been, and remains fully supportive of encouraging the new teams into the 36th America’s Cup joining the already very well established and strong group of existing challengers."

Teams do not have to be up-to-date financially until the first race of the World Series event in 2020, meaning should any challengers face some funding issues, they have time to recover.