The govt has pledged to invest $5 million to keep the team of Team NZ together. The Government provided the same amount of funding to Team NZ following its defeat in San Francisco in 2013. Speaking at his regular post-Cabinet press conference, Prime Minister Bill English said Team NZ had provided enjoyment and a sense of achievement to millions of Kiwis. The $5m was provided because Team NZ didn't have any cash, and their talent was vulnerable to being poached. The Government had a process for supporting major events, but the second and less clear cut aspect was support for Team NZ.

Source: Otago Daily Times July 03, 2017 04:52 UTC