"To me, it is a privilege to hold the America's Cup. The 36th America's Cup will be held in Auckland, perhaps in 2021. Team New Zealand won this America's Cup because it hit on a remarkably fast, innovative boat design on a budget of about $55 million. In the last two America's Cup matches, the races were shorter to fit into a TV window. In five campaigns since 2003, it's believed that Ellison spent more than $700 million on pursuing, winning and defending the America's Cup.

Source: ABC News June 27, 2017 14:48 UTC