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13 Aug 2020 21:14
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  •   Home > News > Sports > Sailing

    A marketing expert says the Government is right to stop payments to the organisers of the America's Cup

    A marketing expert says the Government is right to stop payments to the organisers of the America's Cup

    The Government has stopped any further payments, as it investigates allegations of a "reclassified" three million dollar loan and claims of fraud involving a Hungarian bank account.

    Three quarters of the Government's 40-million dollar allocation has already been paid.

    It comes as the owner of Newstalk ZB and the Herald is set to fight a gagging order stopping the publication of details of a report into the spending of public money -- relating to the America's Cup.

    Auckland University's Bodo Lang says the Government is making the right call to temporarily stop payments.

    © 2020 Newstalk ZB, NZCity

     Other Sailing News
     09 Aug: Peter Burling and Blair Tuke are keeping well away from the politics of the America's Cup
     07 Aug: Peter Burling and Blair Tuke remain committed to defending their Olympic 49er title next year despite taking on another big commitment
     06 Aug: An arbitration panel ruling against Stars and Stripes almost certainly spells the end of the syndicate's America's Cup challenge
     28 Jul: INEOS Team UK insist they're happy with where they are at despite only sailing their first America's Cup boat once or twice a week in Portsmouth
     27 Jul: American Magic chief executive Terry Hutchinson's staying anchored over the prospect of a lifeline being given to another US America's Cup syndicate
     24 Jul: A favourable forecast next week will see American Magic start sailing their AC75 monohull Defiant on Auckland's Waitemata Harbour from Monday
     20 Jul: The first America's Cup Challenger to arrive in Auckland is just about ready to sail its first boat on the Waitemata Harbour
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