America's Cup defender Team New Zealand has struck back over questions about financial management, including an alleged fraud in which more than $1 million of event money was paid into a Hungarian bank account. Emirates Team NZ Team New Zealand boss Grant Dalton has plenty going on as testing resumes with the syndicate's AC75 Te Aihe. The allegations and Government audit are part of a complicated scenario involving the three parties in America's Cup Event Limited (ACE) and a contractor it terminated over alleged long-running leaks. "Imagine if the All Blacks were expected to pay for the costs of setting up a Rugby World Cup," Dalton said. Getty-Images Economic Development Minister Phil Twyford, left, and Auckland Mayor Phil Goff are saying little about the discussion over the America's Cup event, which they co-fund.

Source: Stuff July 01, 2020 00:33 UTC