The Economic Development Minister has made it clear there won't be further government handouts to Team New Zealand and that the $5m announced yesterday is to retain key members of the team. Simon Bridges told the Radio Sport Breakfast that the America's Cup winners will have to find money through corporate sponsorships. They had a small budget to get them through to now and then it drops off a cliff," Bridges told the Radio Sport Breakfast. Listen: Simon Bridges on the Radio Sport Breakfast"This is for staff only and it's not for new staff and it is not for increases in their payments," Bridges said. "This is something we would have done in any year, it stacks up, about tiding over Team New Zealand.

Source: New Zealand Herald July 04, 2017 00:11 UTC