Team New Zealand boss Grant Dalton claims the team was the victim of a "deliberate, sinister, and highly orchestrated attack". Photo: NZ HeraldA probe into the funding of Team New Zealand and the America's Cup has been released and found "no evidence of financial impropriety or misappropriation of funds". But a $3 million contribution to Team NZ by America's Cup Limited (ACE) will go to mediation with the Ministry of Business, Innovation and Employment (MBIE)MBIE, in consultation with host partner Auckland Council, has completed its audit into allegations made against Emirates Team New Zealand Limited (ETNZ) and America's Cup Event Limited (ACE). The Beattie Varley report, commissioned as part of the audit, found that there was no evidence of financial impropriety or misappropriation of funds. It emerged last month that Team NZ had been scammed when a large amount of money was sent to a Hungarian bank account in a fraudulent transaction.

Source: Otago Daily Times August 26, 2020 04:41 UTC